Ajman, 26 July 2008: Awali Real Estate Investments, one of the region's most reputed investment firms, has awarded Adnan Saffarini Engineering Consultants the Dh65 million contract for the architectural design, supervision and engineering consultancy services for 15 residential and commercial towers in the Ajman based Awali City.

The signing of the agreement took place during a ceremony attended by Mr. Hussein Hassan Al Nemer, Chairman of Awali Real Estate Investments, who co-signed the agreement with Engineer Ahmad Saffarini CEO of Adnan Saffarini Engineering Consultants.

Commenting on the deal, Mr. Ali Al Nemer, Managing Director of Awali Real Estate Investments, said, "We are introducing new architectural icons to the Awali City map and adding to the company's portfolio a host of state of the art towers that reflect Awali's position as a leader in the field and the luxurious projects we offer a superior residential and commercial investment opportunities".

"We have chosen Adnan Saffarini Engineering Consultants because we have supreme confidence in their strong track record and the impressive performance demonstrated by them in the field of architectural design across the country."

Engineer Ahmad Saffarini, CEO of Adnan Saffarini Engineering Consultants, said, "The towers will boast luxurious, modern and stylish designs and state of the art technologies to cater to the various needs of clients, residents and investors. These towers will be the first step for excellence and innovation of architectural designs in Awali City".

The 15 towers consist of two height levels. There are 11 towers of 32 storeys each, which form the Northern and Southern Gates of the city, and four 25-storey towers forming the City's entrance from Emirates Road. 

The Awali mega city was launched in cooperation with Ajman Government's property investment establishment at the beginning of this year, as a debut for the renowned developer in the Ajman real estate market. The project is a self contained, state-of-the-art, city-size development, spread over an area of 33 million square feet along the Emirates Road, and includes 136 plots of land designated for residential and commercial use.  Awali City will offers a number of towers of 17 to 50 storeys each,  that will accommodate over 120 000 people.

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About Awali Real Estate Investments
With an ambitious vision based on understanding of the regional needs, Al Nemer Group eyes the leading position in the MENA real estate market, to which end it has launched an aggressive expansion strategy with special focus on forging strategic alliances with the region's leading firms. The Group has founded an independent real estate group that adopts advanced levels of corporate governance practices and the highest of technical standards to ensure excellent work progress and to maintain sustainable development.

Awali Group's transparency and performance have contributed to the establishment of Awali Real Estate Investments; a duly incorporated UAE firm based in Dubai, founded by the KSA based Al Nember Group as part of the mother company's plans to expand across the region, capturing a chunk of the booming real estate market in the region, particularly in the GCC.

Awali made its debut in the UAE real estate market with the mega Awali City project on the Emirates Road in Ajman, which was launched in cooperation with Ajman Government's Property Investment Establishment at the beginning of 2008. The company has a number of plans for expansion within the UAE, in Ajman, Dubai and Abu Dhabi, as well as further afield in KSA and other GCC and Arab countries.

Al Nemer Group, Mother Company to Awali, has more than 40 years' experience in the KSA real estate market and has co-founded a number of real estate companies, such as Jenan Real Estate and Mawten Real Estate. The group has also co-founded a number of companies in the financial and aviation sectors in GCC, such as Arbah Capital, Watan Financial Investment, Awali Financial Supporting Services, Financia, Afaq Aviation, United Holding Company and the Dubai based USOS Real Estate, in alliance with Dubai Islamic Bank, as well as establishing a number of strategic partnerships.

For further information, please contact:
Serine Srouji       
Account Manager
Tel: +971 4 3298996
Fax: +971 4 3298995
Email: serin@saharagcc.com      
Web Site: www.saharagcc.com

© Press Release 2008