New company to market Blossom Towers in Ajman

Dubai, 14 February 2008

Only 24-hours after its own official launch, integrated real estate company GREAT Properties last night launched its first project - Blossom Towers in Humaid City, Ajman - at a lavish ceremony held at the Madinat Jumeira. The launch was attended by a number of investors, brokers, media, and other interested parties.

Developed by Al Rashed Real Estate, Blossom Towers is the collective name for four residential towers under development in Humaid City. Individually, these four towers are known as the Cassia, Daisy, Orchid, and Lavender Towers. Construction on the towers is set to start within six months.

As part of an exclusive agreement signed with Al Rashed Real Estate, GREAT will be responsible for the promotion, sales and marketing of the Blossoms Towers project, which has a total investment value of close to AED 1 billion. The agreement also includes another three towers in Humaid City that will be launched at a later date.

In his speech, delivered at the launch, Mr Ahmed Rashed Hamad Al Kaabi, General Manager of Al Rashed Real Estate, the major developer for Humaid City, noted the company's extensive experience, particularly in Ajman, where they have been involved in the development of various real estate projects, including residential towers projects, as well as the first waterfall tower. Mr Al Kaabi also expressed his confidence in the GREAT team's ability to market the towers as an attractive residential project.

Humaid City is a self-contained city featuring a mixture of residential and commercial complexes, as well as world-class medical, educational and shopping facilities. Situated on Emirates Road - the main road that connects all seven emirates - opposite Emirates City, it is only a 20 minute drive from Dubailand, and allows for easy access to Sharjah, Dubai International Airports, as well as to Ajman International Airport, once it has been completed.

The Blossom Towers development is targeted at upper lower- to middle-income earners, who cannot afford to live in Dubai due to the high property prices, and though unit prices in the towers will be affordable, facilities will not be lacking. Each of the Blossom Towers will contain a number of facilities, including a mosque, a library, 24-hour maintenance, a high-tech security system, a children's play area, a nursery, separate swimming pools for men, women and children, and internet facilities, to name but a few.

Mohammed Al Zarah, Vice President of GREAT Properties, said, "We are excited at the opportunity that the Blossoms Towers project presents for GREAT to show the value that can add to any project across the board - for the developers, the investors, and the end users -through the implementation of our sales and marketing strategies, and we are delighted to be able to work with all parties involved to make sure that the launch and marketing of this project runs as smoothly as possible."

At the launch, GREAT's Sales Director, Mr Mohammed Mirza, discussed the company's sales and marketing strategy for the project, emphasising the importance of proper branding. He also mentioned the payment plans that the company has developed for both the end-users and investors of the project, in line with its mission to provide superior sales and marketing services.

GREAT has set up an attractive, interest-free six-year payment plan with monthly instalments as low as AED 2,000 for all end-users in order to make the project affordable. An exclusive, well-structured, profitable investment plan has also been designed for investors, through which they will begin to receive the benefits and profits of their investments within two to three months.

With approximately AED 1.4 billion worth of real estate projects under development, Ajman is currently ranked third out of all the emirates in terms of development. Ajman's competitive status is due in large part to the development of a number of large projects, such as the Ajman Marina, Emirates City, Humaid City, Zayed City, Marmooqa City, with many more on the way.

-Ends-

About GREAT Properties:
GREAT Properties, an AED 50 million real estate company based in Dubai, comprises a consortium of GCC investors who hold a leading position in the property development services sector thanks to a group of founders, shareholders and investors who are renowned for seeking excellence in all businesses in which they engage. GREAT was created to assist both developers and investors by offering high-end real estate-related services to consumer and trade audiences, including sales, marketing, promotion, advertising, after-sales service, leasing, facility management, and investment consultation, as well as research and reporting activities for property clients.

For more information, please call:
SAHARA PR
Wajih Halawa
Tel: +971-4-329 8996
Fax: +971 4 329 8995
Mobile: +971-50-240 3357
wajih@saharagcc.com

© Press Release 2008