Abyaar announces Dubai project delivery
Dubai, May 22, 2013
Dubai-based Abyaar Real Estate Development Company has announced the delivery of the phases I and II of its prestigious Acacia Villas project located at Acacia Avenues, the first freehold development in Dubai’s prime Jumeirah district.
Abyaar is one of the leading companies operating in the field of property development in the Middle East region. It performs high-quality real estate projects, and well known for its contemporary designs and selection of prime locations, said the company in a statement.
Abyaar chairman Marzooq Al-Rashdan said, “We are back again with the implementation and completion of our projects. The signs of recovery in the Dubai real estate market are clear though the process of enacting laws and new regulations by the Land Department for the market regulation to give investors more protection and security.”
According to him, Acacia Avenues is the first project in Jumeirah which gives the opportunity for investors to own property.
The project was launched by Abyaar in 2007 at a cost of Dh2 billion ($554.3 million) as a full-service complex containing 50 villas and six towers on an area of 94,000 sq m near the Knowledge Village.
On the completion of Hillliana Tower at Acacia Avenues, Al-Rashdan said: “We have announced the signing of a strategic partnership agreement to develop Hilliana Tower and other real estate projects in Dubai between Abyaar and Naif Saleh Alrajhi Investment Company."
"Work is currently underway and the completion of construction works will finish soon," said the top official.
Al-Rashdan pointed out that 2013 will be promising for real estate investors because of growth, stability and the availability of investment opportunities in the Dubai real estate market, long regarded as the favourite for investors in the Middle East.-TradeArabia News Service
More Construction & Real Estate Stories
- Emaar unveils luxury homes in ‘BLVD Crescent’
- Emaar's retail spin-off plan 'won't affect rating': S&P
- Alargan HQ becomes Kuwait's first Leed project
- Tecom parks to become carbon-free zones
- New Tekla software accelerates information flow
- Damac unveils first Trump Estates in ME
- GFH in key London property placement
- Green Valley unveils new UAE, Turkey projects
- Jotun colour collection tracks new trends
- RAK Properties to distribute $27.2m profit
- Top construction firms head to Bahrain
- Investors pull out of $65m Bahrain project
- Projects stalled in Bahrain due to 'mismanagement'
- Emaar rules out plans for new tall tower
- Barwa net profit surges 27.3pc
- RAK Properties adds new villas to Flamingo project
- Saudi launches housing scheme to ease shortage
- R&M wins Oman residential project contract
- Asian skyscraper prices tower over rest of the world
- Tamleek opens new office in Dubai
- $29m allocated for Bahrain drainage projects
- Indian group plans $300m Bahrain Bay investment
- Drake and Scull awards key supply contract
- FCC wins $702m Doha metro line contract
- SPF Realty sees Dubai project success
- Abu Dhabi set for big property show
- Aldar working on $1.5bn UAE housing projects
- Gulf Finance House to start $3bn Tunisia project
- Abu Dhabi to see 10pc surge in new homes
- Saudi construction sector booming on new contracts