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Al Fara'a plans $2.7bn new Dubai projects

Dubai, July 12, 2008

Al Fara'a Properties has announced its plans to launch a series of new projects worth Dh10 billion ($2.7 billion) within Dubai’s most sought-after real estate destinations by the end of 2008.

Al Fara'a is the flagship subsidiary of the Al Fara'a Construction, Industrial and Property Group.

The ten-fold expansion will reiterate the leading developer’s focus on providing quality built spaces and integrated services for regional and global clients through the unveiling of several high profile commercial, residential and mixed-used projects, said a top company official.

With a growing repute as a developer that specialises in providing high-end developments within the most in-demand locations, Al Fara’a Properties said the projects will be strategically located in Dubai Maritime City, Dubai Waterfront, Down town Jebel Ali, and Al Reem Island.

The new batch of projects will incorporate the developer’s signature features, including additional amenities that give Al Fara’a Properties’ projects its distinctive edge.

“As an organised business entity whose main focus lies in achieving success in all our endeavours, we have developed a result-driven strategy based on the rapidly-maturing real estate climate to ensure the success of the upcoming projects we currently have in the pipeline,” said Natasha Gangaramani, director, Al Fara'a Properties.

'The value of the strategic planning that goes into our charted plans reflects our proactive approach to growth, including our efforts to launch and deliver projects within important real estate locations in the UAE,' she noted.

'We believe that our aim to boost our portfolio to reach Dh10 billion by the end of 2008 is ambitious but nevertheless a realistic one, given the support we have received from the Al Fara’a Construction, Industrial and Property Group and its subsidiaries in the past, and we are now investing all our efforts towards achieving this goal,' she added.

Following the recent successful launch of 'Image Residences', which marked Al Fara’a Properties’ initial foray into Downtown Jebel Ali, the developer has participated in several high-profile exhibitions in the country and abroad.

These include Cityscape Abu Dhabi and the Property Investor Show (PIS) in Birmingham, UK, in an effort to promote its latest development.

Moreover, the developer is now gearing towards the completion of its luxurious project, ‘Le Grand Château’, with delivery slated for the last quarter of 2008, Gangaramani said.

“The tremendous success and response we have garnered over the past few months indicate that we are on the right track in terms of expansion and consumer confidence.'

'All our efforts are directed towards our goal to further establish our position as one of the top five developers in the UAE, and we will achieve this by providing excellent value to our customers’ investments. Our goal to be a market leader is accompanied by our desire to play a part in the growth and development of our customers, as well as our partners and the society at large,” she added.-TradeArabia News Service




Tags: Dubai | Expansion | Plans | Al Faraa Properties | new projects |

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