Arabtec draws good response at Cityscape Abu Dhabi
Dubai, April 28, 2014
Arabtec Properties, a subsidiary of Arabtec Holding, said it has received overwhelming response from investors during its debut show at recent Cityscape Abu Dhabi.
The eighth annual edition of the exhibition was held from April 22 to 24 at the Abu Dhabi National Exhibition Centre.
Hundreds of current and potential investors, partners and clients visited Arabtec’s stand for first-hand information about the top of the line residential, hospitality, and mixed-use developments showcased, said the company in a statement.
During the event, Arabtec Properties, the newest member of the Arabtec Holding, unveiled a series of high quality, world-class residential and mixed use developments, some which have started and others in the design and planning phases.
Investors and clients from the UAE and other GCC countries, as well as from Asian and European countries acquainted themselves with the details of the showcased projects, five of which were in the UAE, it stated.
These projects hold a total value of Dh14 billion ($3.81 billion), with three in Abu Dhabi valued at Dh9 billion, and two in Dubai worth Dh5 billion.
The projects also included Arabtec’s grand project in Egypt, which is the biggest of its kind in the Middle East, said the UAE builder in its statement. It will see the company develop and construct one million housing units for lower income Egyptian families. The project is set to be completed in phases by 2018.
Arabtec Holding managing director and CEO Hasan Ismaik said: "Arabtec Properties has made a powerful start with these large-scale projects, which stands as testament to Arabtec’s strong reputation. The company is well positioned to expand into real estate development sector, and will capitalise on our extensive experience in construction and our in-depth knowledge of the market."
According to him, the visitors to the stand noted the diversity of the company’s offerings. "These include serviced villas, such as the Rancho Ghantout Development, which is still in the master plan development phase, as well as serviced apartments and hotels managed by world-class operators to office and retail space," he noted.
Arabtec Properties also received scores of enquiries from interested buyers, while the company’s senior executives held a series of meetings with investors and stakeholders offering their services in a vast array of areas, from design to support services to construction.
Noting that low to middle-income housing is a core focus for Arabtec, Ismaik disclosed that Arabtec was in talks with the authorities in Abu Dhabi for implementing more projects for this segment.
“We are considering a series of projects similar to the one in Egypt, which will take place across several countries in the UAE and across the Arab world,” noted Ismaik.
Ismaik said Arabtec Properties has attracted the attention of Cityscape visitors with the top quality housing units to be built here in the UAE, as well as serviced residential compounds to be managed by top hospitality brands, and superb office and retail space.-TradeArabia News Service