US$1 Billion 'Property House' Launched |
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New Real Estate Development Company Plans to Attract US$600 Million from International Investors by December
Dubai: 19 May, 2008 - Property HouseProperty House
, an ambitious US$1 billion real estate and property management company, was launched today by Muhammad Nazir, a leading businessman with diverse investment interests in the UAE, Pakistan and Turkey. Seeking to introduce innovative and functional architectural investment propositions in the UAE, Property HouseProperty House will look to be placed among the region's top five real estate companies within the next two years. The company has been busy acquiring land in the region and already boasts a land portfolio of approximately six million square feet in Dubai and Ajman emirates in the UAE.
Prior to the formal launch, Property HouseProperty House has already made huge investments in the Al Helio Downtown mini city developments in Ajman jointly with DSECO, the South Korean master developer. Its decade-old sister entities include M. N. Developers, M. N. Enterprises, and Star Foods in Pakistan, as well as Property HouseProperty House in Istanbul, Turkey.
Addressing a press conference in Dubai, Muhammed Nazir, CEO and Managing Director, Property HouseProperty House, said: "The leadership in the UAE has created a buoyant real estate sector that offers unparalleled investment opportunities. Our own analysis and constant feedback from the investment community in Pakistan, India, and China as well as other emerging markets such as South Korea and Brazil, have revealed that investors are interested in tapping these lucrative opportunities. As an innovative business house, Property HouseProperty House will act as a vehicle to attract these investments."
The company has pledged to follow global best practices while catering to the requirements of a spectrum of investors, and meeting their satisfaction by offering them the most attractive packages at all Property HouseProperty House projects.
Other residential and office projects represented by Property HouseProperty House are the Barbaro and Sundance, which will be located in downtown Majan area of Dubailand. Properties from these developments will be offered for sale in the next two weeks while sale for Al Helio development has already commenced.
Mirror Walk, another residential project to be announced soon, will be offered for sale within the next three weeks.
A. Kochhar, General Manager-Projects, Property HouseProperty House, said: "Our real estate offerings and our sister companies in Pakistan and Turkey stand testimony to our ethics. We intend extending our vision of providing our customers value for money by offering them service that matches their expectations."
Property HouseProperty House's mission to become the real estate leaders is evident in its latest project to transform Ajman downtown into an independent city, called the Al Helio Downtown. The project in Ajman will be the first of a kind mini city containing residential and commercial developments through this joint venture with DSECO.
Al Helio Downtown will boast schools, colleges, universities and a full-fledged hospital, located within 20 minutes drive from the Dubai International Airport. The Downtown will also comprise a state of the art lifestyle retail experience with spectacular exhibits by renowned brands.
M. C. Sujil Bose, Marketing Manager, Property HouseProperty House, said: "By ushering in new, innovative, and elegant designs, Property HouseProperty House is determined to further revolutionize Dubai's real estate market. Today, we are more than delighted to contribute to the growth of the sector by presenting the architectural masterpieces we represent for our unique clientele."
-Ends-
For further information, please contact
Linda Abdulhay
JiWin
Tel: +971 4 3613333
Fax: + 971 4 3688001
E-mail: Linda.abdulhay@jiwin.ae
Lubna Habib
JiWin
Tel: +971 4 3613574
Fax: + 971 4 3688001
E-mail: Lubna.Habib@jiwin.ae
© Press Release 2008
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