Saturday, May 12, 2007

Al Fajer to enter Indian Property market

Al Fajer Properties is likely to invest a billion dollars or Dh.3.67 billion in the Indian Property sector.

The Chief Executive of Al Fajer, Shahram Abdullah Zadeh, mentioned that the company is convinced with various opportunities present in healthy cross-border investments as far as the two countries are concerned. The company wishes to develop projects in India through a joint venture and by facilitating small investors in India to buy properties in Dubai, which would yield them good returns.

The company, while making its entry into the Indian property market, aims to develop three main kinds of projects – townships, commercial and gated residential community.

Zadeh mentioned that the company has been carrying on talks with two major real estate developers and are targeting the locations Chandigarh, Hyderabad, Mumbai, Gurgaon and Gujarat in India.

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