Dubai-15th December 2008: Triveni Builders and Promoters Ltd (TBPL), a Dubai-based developer wholly-owned by the Triveni Trading Group, announced today that it has broken ground on its much-awaited, AED100 million, middle-income residential building, La Fontana. La Fontana is a six-storey low-rise building located in the Arjan Master Community in Dubai Land, a one-of-a-kind community that promotes nature, greenery and a family-first, amenity-rich lifestyle.

Strategically located within close driving distance to the Mall of the Emirates, the Gold and Diamond Park and the Global Village, La Fontana is targeting genuine home owners and the investor who is looking for guaranteed and best rental returns, should they decide not to move in themselves immediately on getting possession. Prices for units range from AED 498,600/- for studios to AED 1,315,900/- for two-bedroom apartments.

The groundbreaking ceremony was attended by Mr. Jaffer Abdulla Abdule, sponsor and partner of Triveni Group of Companies and Ashok J. Galgotia, CEO of Triveni Builders and Promoters Limited in addition to more than 60 homebuyers.

 "This is a project promoted by a tenant for tenants. We are very pleased to have genuine end users as our buyers who look at La Fontana as a sound and a long-term investment. The project was strategically delayed just by few months to match the Master developer's requirements. However, now that the construction has begun, we shall work continuously to ensure timely completion of the project," said Galgotia. "This is our pledge to all are keen on moving into their new homes by mid of 2010 despite the current slowdown in the real estate market, we are committed as ever."

La Fontana is part of the Arjan Master Community that includes residences, schools, parks, hotels, offices, retail and community spaces designed for leisure pursuits. Mizin, a member of Tatweer - a subsidiary of Dubai Holdings - is the project's master developer, while Arkiplan Consulting Engineers are the project's designer.

La Fontana offers a range of finance options to individual buyers and investors in cooperation with Mashreq Bank and HSBC, for conventional financing, and Badr Al-Islami Bank, for Islamic financing.

Triveni Builders is a subsidiary of Triveni Group, which was founded in 1993 in the UAE as a developing engineering company involved in electrical and mechanical engineering products. Recently, Triveni Group has subcontracted with Stromek Emirates Foundation LLC, the subsidiary of M'share wholly-owned by Dubai Investments, for the execution of shoring and excavation works for La Fontana.

-Ends-

About Triveni Trading Group:
Triveni Trading Group was established in 1993 in the UAE as a trading company. In 1997, the company transformed into a Limited Liability Company registered with the Economic Department and the Chamber of Commerce, Sharjah. The company is involved in electrical and mechanical engineering products, particularly plastics and packaging.  It exclusively represents various multi-national companies from the US, the UK, Italy, Singapore, Taiwan and Hong Kong. Most of these companies are leaders in their respective fields, and Triveni has been a pioneer in promoting them in the Middle East. It also owns industrial and trading enterprises in construction, packaging, and the health and beauty sectors.

For more information, please contact:
Ashok J. Galgotia
CEO
Triveni Builders and Promoters Limited
Tel: +971 4 2859967
Fax: + 971 4 2859968
Mobile: +971 50 4620806
Email: infohomes@triveni.ae

For media requests, please contact:
Jean-Renaud Durbin
The CONTENT Factory
P.O. Box 29764,
Dubai 
United Arab Emirates
Tel: +97143341880
Tel 2: +97143372824
Fax: +97143372825
Mobile: +971506953301
E-mail: jr@tcf-me.com

© Press Release 2008