Sunday, March 18, 2007

Manazel invests on three key projects in the UAE

The Abu Dhabi Real Estate Developer, Manazel Real Estate, has invested $2.5b in three key projects in the UAE. The Chairman of Manazel, Mohammad Al Qubaisi, mentioned that the company is on the look out for fresh investment prospects in the region and that they are planning to invest about Dh25billion or more in regional and local development projects in the next few years. Al Qubaisi also added that apart from looking out for developments in the Gulf area alone, they are also on the look out for developments in Morocco, Tunisia and Egypt.

Manazel, which came into force just about ten months ago, has already developed the Building Materials City at Abu Dhabi, that comprises of 49 towers for residential and office purposes, the Dunes Village comprising 950 apartments and nineteen

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