Sep 11 2006 |
more articles from
|
Kuwait firm to invest $1.4b in Dubai market
DUBAI -- Kuwaiti real estate developer backed by one of the country's most powerful investment groups -- Aayan Leasing and Investment Company and Al Rashdan Group -- has entered the UAE market with plans to invest up to $1.4 billion in Dubai over the coming year.Abyaar Real Estate Development says its Dubai projects will impact the emirate's residential, commercial, hospitality and retail segments and will be phased in over the coming 12 months. First off the anvil for the company's Dubai operations are two upscale service apartment projects at the exclusive Dubai Marina.
The company has invested over $150 million in the luxury serviced apartment towers Pier 24 and Pier 8 and is in final negotiations to have the facilities managed by a first-class brand of Rezidor SAS Hospitality -- the fast-growing, Brussels-based hospitality firm.
"Our mission is to build excellence and to bring international real estate opportunities to global investors that deliver incomparable value to our stakeholders," said Hisham Al Obaid, Chairman, Abyaar Real Estate Development .
"Pier 24 and Pier 8 will be the first of several projects to be rolled out by the company in Dubai this year. Other projects on the drawing board will further demonstrate our commitment to the UAE market and our belief in its long-term investment potential," he adds.
Pier 24 is expected to be completed by next summer while Pier 8 will ready in June 2008.
© Khaleej Times 2006
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment