Omar Ayesh, a former chief executive officer of Tameer Holding, has formed Nobles Investments, a Dh4 billion ($1.09 billion) real estate company in Dubai, said a report.

The firm will announce a number of upscale developments before the year-end and will concentrate on the real estate markets in the UAE and the Middle East, Ayesh was quoted in Gulf News.

'The establishment of Nobles Investments inaugurates numerous years of industry experience, and fuels a totally new concept the company is set to introduce based on best global practices and business ethics. The company has adopted 'The Art of Life' as a core strategy, where performance revolves around three pillars; the team, the customers and the strategic partners,' said Ayesh.

All of Nobles' developments will be according to the best international quality standards, and will feature seven-star luxury facilities at reasonable prices, he stated.