Dubai - 11 October 2008: Awali Real Estate Investments, is preparing for its participation in the Real Estate & Investment Exhibition, which will take place at the Kuwait International Fair Centre from 13 to 17 October. 

The Real Estate & Investment Exhibition is the first exhibition of its kind in Kuwait, offering an array of services to a large segment of individuals and corporations in the State of Kuwait, the GCC and various other Arab and international countries who specialise in the real estate field. 

In a statement on the firm's participation in this event, Mr. Mohammed Hussein Abdullah Al Nemer, board member and Chief Marketing Officer said, "The Kuwaiti real estate market is really coming alive at the moment, and we at Awali are keen to explore the possibilities here.  We are confident that there is great benefit to be drawn from a strategic entry into this market, both for our company and for the local market. We continuously look for co-investment opportunities with Kuwaiti firms in the Kuwaiti, Saudi and UAE markets".

Awali's plans for this exhibition include the launch and promotion in the Kuwaiti market of the recently unveiled Awali City project and the two twin tower projects that Awali is set to develop there in the near future.   

Mashrabia Residence is a freehold twin tower project designated for residential use, each tower comprising 25 storeys, with 12 one bedroom apartments and 4 two bedroom apartments on each level, amounting to a total of 800 apartments between the two towers. Scheduled for completion by the end of 2011, the project boasts state-of-the-art facilities that include 7 parking levels and a total of 417 individual parking spaces. Each tower offers spacious retail spaces, as well as entertainment and leisure facilities such as a health club and gym on the roof of each tower, and a swimming pool, a Jacuzzi, and a steam room, among others.

The other twin tower project, "Chevron Commercial Towers", is a pair of spectacular commercial towers featuring all of the facilities essential to modern business.  It is a freehold development comprising two 25 storey towers and 7 parking levels that accommodate 411 cars in all. Each tower includes 304 offices, amounting to a  total area of 375.000 square feet. Each tower offers large retail spaces, entertainment and leisure facilities such as a health club and gym on the roof, a swimming pool, a Jacuzzi, and a steam room. The Chevron Towers are founded on the principles of quality, dynamism and high returns on investment, offering the latest in sophistication and modern convenience. 

Speaking of the significance of these projects to the Kuwaiti market, Al Nemer said, "Ajman is well on its way to becoming one of the Middle East's biggest real estate investment destinations, and with good reason.  We are very pleased to be able to offer our investors a stake in this highly competitive market and, in doing so, to contribute to the healthy relationship shared by the UAE and Kuwait."  

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 offer a number of 17 to 50-storey towers, which will accommodate more than 120 000 people.

Awali Real Estate Investment recently awarded Adnan Saffarini Engineering Consultants a Dh65 million a contract for the architectural design, supervision and engineering consultancy services for 15 residential and commercial towers in the Ajman based project. The 15 towers include 11 32-storey towers, which form the Northern and Southern Gates of the city, and four 50-storey towers, which form the City's entrance from the Emirates Road. 

-Ends-

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       
SAHARA Communications
Tel: +971 4 3298996
Fax: +971 4 3298995
Email: serin@saharagcc.com      
Web Site: www.saharagcc.com

© Press Release 2008