Al Barakah Investments enters real estate market
Marking its entry into UAE's high demand-driven real estate mid-segment, the real estate group, Al Barakah, has consolidated its plans to develop commercial and residential projects, worth over AED 3bn within the next three years, said a press release.
The unveiling of Dhs1.3bn Sanali Towers in Downtown Dubailand marks its first initiative as part of a series of strategically planned developments envisaged to establish Al Barakah amongst the most trusted real estate groups in the region. Having recently announced the development of a 30-storey tower in Ajman, the group will be announcing its first project in Dubai as a developer in February 2008.
Hailing the establishment of regulatory laws in Dubai, Imran Khan, CEO, Al Barakah Group, said: 'Under the inspiring leadership of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai, the Government of Dubai has set the standards and the guidelines for the regional real estate industry. The regulatory laws will further galvanise the realty boom in the region, as these laws provide a level playing field to developers committed to quality and timely delivery while providing buyers maximum security for their investment through trust accounts. Due to a higher level of investor confidence resulting from these laws, we are already seeing increased sales activity for projects with established trust accounts and we foresee greater inflow of investments from around the world, particularly from institutional investors.' Al Barakah will focus on establishing long-term associations with property investors and buyers through transparent dealings to make them fully aware of the various aspects of property ownership. With hundreds of sales affiliates spread across 30 countries, the company's sales channel facilitates property investors' re-sale options with clearly defined exit strategies, enabling attractive profits from re-sale at the best time that suits the investor.
The company has acquired several plots of land in Downtown Jebel Ali, Dubailand and Ajman, with built-up area in excess of three million sq. ft.
Al Barakah intends to capitalize on the wide gap between the demand and supply in the lower and mid-segments which is expected to continue for at least the next five to seven years and this widening gap makes these segments very attractive for buyers.
Al Barakah Investments also unveiled the Dhs1.3bn Sanali Towers, comprising three 30-storey towers, with over one million sq. ft. of office and retail space - facing prestigious developments of Al Barari and Living Legends - located in Majan-Mizin. Developed by a well-reputed Indian developer, Sanali Holdings, the project has been bought by Al Barakah Investments and will be marketed by Inside Track Real Estate Brokers LLC. The construction will commence shortly and be completed by December 2009.
Each of the towers, will comprise retail spaces on the ground and mezzanine floors plus 28 floors of office spaces with health club facilities on the 29th floor. The modern offices with state-of-the-art facilities will have a spacious four-tier underground car park. (WAM)
The unveiling of Dhs1.3bn Sanali Towers in Downtown Dubailand marks its first initiative as part of a series of strategically planned developments envisaged to establish Al Barakah amongst the most trusted real estate groups in the region. Having recently announced the development of a 30-storey tower in Ajman, the group will be announcing its first project in Dubai as a developer in February 2008.
Hailing the establishment of regulatory laws in Dubai, Imran Khan, CEO, Al Barakah Group, said: 'Under the inspiring leadership of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai, the Government of Dubai has set the standards and the guidelines for the regional real estate industry. The regulatory laws will further galvanise the realty boom in the region, as these laws provide a level playing field to developers committed to quality and timely delivery while providing buyers maximum security for their investment through trust accounts. Due to a higher level of investor confidence resulting from these laws, we are already seeing increased sales activity for projects with established trust accounts and we foresee greater inflow of investments from around the world, particularly from institutional investors.' Al Barakah will focus on establishing long-term associations with property investors and buyers through transparent dealings to make them fully aware of the various aspects of property ownership. With hundreds of sales affiliates spread across 30 countries, the company's sales channel facilitates property investors' re-sale options with clearly defined exit strategies, enabling attractive profits from re-sale at the best time that suits the investor.
The company has acquired several plots of land in Downtown Jebel Ali, Dubailand and Ajman, with built-up area in excess of three million sq. ft.
Al Barakah intends to capitalize on the wide gap between the demand and supply in the lower and mid-segments which is expected to continue for at least the next five to seven years and this widening gap makes these segments very attractive for buyers.
Al Barakah Investments also unveiled the Dhs1.3bn Sanali Towers, comprising three 30-storey towers, with over one million sq. ft. of office and retail space - facing prestigious developments of Al Barari and Living Legends - located in Majan-Mizin. Developed by a well-reputed Indian developer, Sanali Holdings, the project has been bought by Al Barakah Investments and will be marketed by Inside Track Real Estate Brokers LLC. The construction will commence shortly and be completed by December 2009.
Each of the towers, will comprise retail spaces on the ground and mezzanine floors plus 28 floors of office spaces with health club facilities on the 29th floor. The modern offices with state-of-the-art facilities will have a spacious four-tier underground car park. (WAM)
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