Shaikhani Group launches new subsidiary
Dubai, February 8, 2010
The Shaikhani Group has launched its new subsidiary - Shaikhani Developments - a new property development, contracting and project management company, which will oversee development, construction and project management activities.
As the UAE continues to lead other Gulf countries in investments into real estate projects, Shaikhani Developments will target the burgeoning opportunities in the country, said a company statement.
Shaikhani Developments will offer a range of services within real estate development, construction and project management, including residential, commercial, and mixed-use projects within the UAE.
The new developer is focused on providing property developments and affordable high quality property options for clients. With a polished approach to delivering high return investments with low risk, Shaikhani Developments will leverage the thirty years of industry expertise by the Shaikhani Group, said its top official.
“The global financial crisis has tested the resilience of the UAE property market, and although the country is yet to completely break out from the clutches of the credit crunch, this phenomenon has underlined the inherent strength of its economic foundation and has brought about significant changes to business models and processes,” said managing director Rizwan Shaikhani.
“The launch of our new subsidiary is a testament to our strong confidence that the UAE is headed for an outstanding recovery. We are looking forward to unveiling our first projects, which will be marked by breakthrough designs and unparalleled quality,” he stated, citing latest reports which reveal that the country will account for 44 per cent of total regional investments in real estate by 2013.
'We have studied the current market trends and its movement in the coming years and we are basing our plans on learnings, which will ensure strategic moves that will yield excellent returns for our investors.'
'At present, we are looking at opportunities to build within leading master developments Mizin and Jumeirah Village. In the long term, expansion to the rest of the GCC is also in our agenda,” he added.-TradeArabia News Service