Sponsorship is a confirmation of the importance of economic leap in Ajman emirate

Ajman- November 2, 2008: In order to brief investors and the public at large to its Awali City project, Awali Real Estate Investments, the reputable real estate investments company in the region, is participating as a golden sponsor in the Local Property Show, to be held from 6th-8th November 2008 in the emirate of Ajman.

Participants in the show, which is a distinct event specializing in real estate investment and funding in the emirate of Ajman, include some of the biggest investment and real estate development companies in the country.

Awali Company will extend its participation in the show by showcasing its biggest project, Awali City, which the company launched beginning of the current year  in partnership with Ajman Government's Property Investment establishment. The project is a complete city with a total area of more than 33 million square feet. The company also seeks to introduce its set of twin towers, which are being developed in Awali city

Mr. Mohammed Hussein Al Nemer, board member and Chief Marketing Officer at Awali Real Estate Investments, commented on the show, saying: "Our participation in the Local Property Show is an important step in our strategic promotional plan for Awali City. The show correlates perfectly with the economic leap the emirate of Ajman is currently witnessing, which strongly indicates that government officials are keen to keep in touch with the leading entities in the real estate sector, and to stay up to date with the latest projects and developments.

"By participating in the event, Awali seeks to continually stay in touch with investors and those interested in the real estate sector, offering them the chance to take a closer look at Awali City project and to study the many opportunities it offers. In addition, the show will also pave the way for participating companies to exchange ideas and expertise, and to discuss the Emirati market, which could lead to increased growth and better development of projects", added Al Nemer.

Awali's participation in the show ties in with the company's recent announcement that infrastructure works in the project are progressing according to the planned schedule, and to the high quality standards agreed upon by the contractors. More than 80% of ground leveling and internal roads are done, while soil checking and buildings' architectural designs are 100% complete.

Awali's set of twin towers are called Mashrabia Residence and Chevron Commercial Towers respectively. Mashrabia Residence is a freehold twin tower project designated for residential use, with each tower comprising 25 storeys, housing 12 one bedroom apartments and 4 two bedroom apartments on each level, which amounts 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 areas, as well as entertainment and leisure facilities such as a health club and gym on the roof of each tower, a swimming pool, Jacuzzi, and a steam room, among others.

Chevron Commercial Towers also boasts a pair of spectacular commercial towers featuring all of the facilities essential to modern business. It is a freehold development that consists of two 25-storey towers and 7 parking levels that can accommodate 411 cars in total. Each tower includes 304 offices, amounting to a total area of 375.000 square feet. In addition, these towers also offer large retail spaces, as well as entertainment and leisure facilities. The Chevron Towers are founded on the principles of quality, dynamism and high returns on investment, offering the latest in sophistication and modern convenience. 

The Awali City project is a complete residential city, comprising 136 plots for residential and commercial use, with towers reaching a height of 17-50 storeys which will house more than 120,000 people.

Awali Real Estate Investment recently awarded Adnan Saffarini Engineering Consultants a Dh65 million contract for the architectural design, supervision and engineering consultancy services for 15 residential and commercial towers in this Ajman-based project. The 15 towers include eleven 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, Financial, 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