Impact of IFA and Nakheel's Jumeirah Palm Island's 'Golden Mile' USD 800 Million Investment to be highlighted at Cityscape 2004
Dubai, United Arab Emirates
IFA Hotels and Resorts, the company behind the Dubai Jumeirah Palm Island's prestigious "Golden Mile" of development and Nakheel's strategic development partner for the project, has today confirmed that it will invest more than USD 800 million in the iconic architectural development project over the coming years.
"We believe that the Jumeirah Palm Island project, with its 'Golden Mile', is the most important residential development in the world today," says James Wilson, IFA's Chief Operating Officer, whose company will be fielding executive-level speakers at the upcoming Cityscape 2004 international commercial architecture and property development event taking place in Dubai from November 29 - December 1.
The development plan supporting "Golden Mile" - a waterfront series of more than 860 residential apartments and 850 retail outlets and restaurants - will be one of the subjects for discussion at Cityscape, with international experts analyzing the positive lessons that the world's property industry can learn from this historic project.
"As preparation for our business plan for investment and management opportunities on Palm Island, and more specifically the 'Golden Mile', we looked at other similar developments in other parts of the world, and we found that none of them comes close to offering buyers what the Palm Island concept is set to deliver, both in terms of ready access to sea and land, as well as to luxury surroundings," he adds.
IFA executives have also confirmed that the company will play a substantial role in bringing two hotels to the island - a Fairmont property at the base of the island, and a Sun International development on the outer crescent - each with more than 1,000 rooms.
With development, legal, retail, marketing, and sales divisions operating regionally, IFA is in a unique position to provide expert commentary on the current state of the Middle East' property development industry growth.
"Cityscape 2004 is proud to have IFA taking part in its extensive schedule of events in such a large and prominent way. Together with its strategic partner, Nakheel, IFA executives will address attendees on the creation of the 'Golden Mile' from conception to implementation," says Neil Hickman, Cityscape Project Manager, IIR Middle East.
Cityscape 2004 will take place between 29 November and 1 December 2004 at the Dubai International Exhibition Centre and attract top architects, international and regional property investment and development experts, and urban planners from the US, Europe, the Middle East, and Far East.
"IFA is delighted to be an active participant in Cityscape 2004 because it provides us with an opportunity not only to support our partner, Nakheel, but to meet other regional developers such as Qatar and the Kingdom of Saudi Arabia. By networking with attendees and sharing our experiences with others at Cityscape 2004, we aim to add value to the region's property market development sector while also consolidating our own brand in the region," concludes Wilson.
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About Cityscape
Cityscape is a network marketing event that attracts regional and international architects, property development professionals and global institutional investors to an annual showcase that celebrates the very best in Commercial Architecture, Property Design and Development. The event as a whole attracts major investors from the international arena, looking for new projects and opportunities for development.
For further information go to www.cityscape-online.com
© Press Release 2004
