Thursday, 17 January 2008

Recent announcements of Projects in the Middle East

The Middle East continues to bring out new investment property projects. Dubai, Bharain, Abu Dhabi all competing to build the most prestigious property developments in the world. These are some new projects, recently announced.

17th January

Fakhruddin Properties, a UAE-based developer, yesterday, said it plans to develop a $68 million residential project called Grand Lagoon alongside Dubai Creek.

According to the press release, “When complete, the Creek will be home to residential towers, shopping malls, commercial buildings, five-star hotels and marina. A “city within a city”, the Grand Lagoon project itself is a 100 per cent freehold development, located at Al Sedaifa district, one of the seven interlinking islands set among a lush, green waterfront,”

17th January

Emaar Properties has strengthened its roster of premium residential projects within Downtown Burj Dubai - the new centre of the city - with the launch of tower one, the first of two Standpoint towers. Located on Burj Dubai Boulevard, the vigilantly designed Standpoint offers residents a fresh and distinctive perspective to modern living, offering an array of lifestyle choices.

Located on Burj Dubai Boulevard, the two Standpoint towers are situated in close proximity to Burj Dubai, the world’s tallest building. Standpoint also offers residents easy access to already-active retail and hospitality offerings, with the Souk al Bahar mall and The Palace, Al Manzil and Al Qamardeen hotels, positioned either side of Burj Dubai Boulevard.

13th January

Deyaar, the region’s fastest growing real estate company, unveiled “Bristol Towers” - a uniquely designed $0.4 billion twin tower project at Business Bay.

With the launch of Bristol Towers, Deyaar now has 12 projects on Business Bay. Its properties rank amongst the most sought after in the development.

Announcing Deyaar’s latest project, the company’s Chief Executive Officer, Zack Shahin said, “We are proud of our portfolio at Business Bay as each of our projects has been very well received by our customers. Bristol Towers are the jewel of that collection. The project is amongst the largest and most exquisitely designed undertakings at Business Bay, with premium facilities”.

9th January

Tashyeed Properties launched it’s Sukoon Tower – A 45 floor, luxury residential tower in Juffair, Bahrain, with plans for 592 apartments. This will also be a freehold development.

“At Tashyeed Properties we want to enhance people’s lives through the development of new homes and commercial buildings. With Sukoon Tower we plan to develop a landmark project close to the waters edge in Juffair that residents can make their own urban haven,” said Dr Kadhem Rajab, Chairman of Tashyeed Properties.

It would appear the property development in the region is far from over. These new developments alone will be adding somewhere in the region of 6,000 new investment property opportunities.