Aswaq Management and Services (AMS), an Abu Dhabi-based mixed-use property consultancy, sales and leasing company, is targeting sales in excess of Dh1 billion ($272.3 million) at the upcoming Cityscape Dubai.

AMS will showcase over 15 projects at the exhibition, which will be held from October 6 to 9 in Dubai.

The key projects on display will be Bawabat Al Sharq, Al Firdous in Oman and Carina Views, Najmat Abu Dhabi.

Following the successful launch of the first phase of Bawabat Al Sharq located in Bani Yas, Abu Dhabi, the second phase valued at Dh3 billion will also be launched at Cityscape Dubai.

Nasser Mohammed Al Nowais, AMS chairman, said, "Cityscape is a key sales platform for off-plan projects, coupled with our strong network and experience within the property and retail sector, we are highly confident about the opportunity available at the event."

"At Cityscape Abu Dhabi, over 500 investors registered with us of which 75 per cent were fresh contacts. The conversion ratio was also very high, three out of every four prospected customer made a purchase," he remarked.

“The highlight of Cityscape Abu Dhabi was the launch of the Bawabat Al Sharq, we sold 75% of phase 1 in just four days and we are looking to repeat this success with the launching of the phase II of the project at Cityscape Dubai.”

AMS is the exclusive sales agent of Bawabat Al Sharq and will have on display the phase II of the project comprising of 780 apartments and 142 villas.

The project is the first luxury mixed-use development situated on 108 hectares of land on one of the main suburban regions in Abu Dhabi.

The second phase encompasses the new headquarters for Baniyas Sports & Cultural Club and includes a new International Fifa standard football stadium with seating for 20,000 people.

The AMS Residential and Commercial sales division was set up a year ago and over this time the department has grown considerably and exceeded yearly budgets. Last year AMS had sales worth of over Dh1 billion.

AMS was recently appointed by NREC to provide residential development consultancy services for Carina Views, Najmat Abu Dhabi and currently AMS is negotiating more projects to be added to the existing portfolio and announcements to this effect will be made shortly.

The company along with its affiliates is targeting annual revenues of over Dh20 million in 2008.-TradeArabia News Service