27 May 2008
Eqarat.com, a real estate solutions provider, has conducted a feasibility study on Sama Dubai's The Lagoons for a Kuwait-based real estate developer, Al Arabiya Real Estate Company (AREC).
Further to the study, AREC has invested Dh3.5bn into a mixed-use project within The Lagoons. "Our longstanding presence in the regional property development arena has honed our capabilities in recognising opportunities, which has been the basis of our successful operations and strong relationship with both leading developers and high-value investors," said Ali Hussein Al Rahma, Chief Executive Officer, Eqarat.com.
"This partnership with Al Arabiya is a part of our aggressive campaign to further entrench our brand's leading position in the regional real estate market. It gives us pride to have played a significant role in AREC's first project in the UAE, and we are definitely looking forward to its official launch later this year."
Meanwhile, AREC is focused on penetrating the Gulf Co-operation Council countries, Egypt, Morocco and Iran.
The company has built a wide range of projects across the region, from apartment buildings to five-star hotels to mega commercial centres, through which it has obtained a BBB rating classification for the third year in a row from credit rating company Capital Intelligence.
AREC is ISO 9001 certified and this has opened up tremendous opportunities for the firm to enter into any bid for most of the build operate transfer projects, both locally and regionally.
Eqarat.com, a real estate solutions provider, has conducted a feasibility study on Sama Dubai's The Lagoons for a Kuwait-based real estate developer, Al Arabiya Real Estate Company (AREC).
Further to the study, AREC has invested Dh3.5bn into a mixed-use project within The Lagoons. "Our longstanding presence in the regional property development arena has honed our capabilities in recognising opportunities, which has been the basis of our successful operations and strong relationship with both leading developers and high-value investors," said Ali Hussein Al Rahma, Chief Executive Officer, Eqarat.com.
"This partnership with Al Arabiya is a part of our aggressive campaign to further entrench our brand's leading position in the regional real estate market. It gives us pride to have played a significant role in AREC's first project in the UAE, and we are definitely looking forward to its official launch later this year."
Meanwhile, AREC is focused on penetrating the Gulf Co-operation Council countries, Egypt, Morocco and Iran.
The company has built a wide range of projects across the region, from apartment buildings to five-star hotels to mega commercial centres, through which it has obtained a BBB rating classification for the third year in a row from credit rating company Capital Intelligence.
AREC is ISO 9001 certified and this has opened up tremendous opportunities for the firm to enter into any bid for most of the build operate transfer projects, both locally and regionally.
By Staff Writer
© Emirates Business 24/7 2008
