Saturday, May 19, 2007

Al Tajir plans to introduce five projects worth Dh.1.5billion

Al Tajir Real Estate, a new player in UAE’s growing property sector, is planning to launch five projects with a combined value worth Dh.1.5billion. Among these a minimum of four developments will be developed in Dubai. The company has already purchased lands for these projects.

Although a new comer, the owner of the company, Al Tajir, is of the opinion that his firm will soon be recognized in the property sector of the country. He also mentioned that the company has announced the construction of Waterfront Residences worth Dh.800million at Reem Island in Abu Dhabi, through their sister concern Empire International Investments.

Al Tajir Real Estate plans to unveil the sale of their low-rising project housing, Fortunato with 291 units, comprising apartments and townhouses and a development value of Dh.390million.

The project with a built-up area of 637,686 Sq.Ft., will have studios priced at an average value of Dh.295,000; a single bedroom priced at Dh.538,538 and a two bedroom with a price of approximately Dh.682,722. The townhouses with four bedrooms will be priced at Dh.2.2million.

Al Tajir mentioned that a lot of care has been paid to every details of the project. Though, in the best interest of the end-users, the prices are kept low, these are not cheap properties, he added.
The project planned at the Jumeirah Village South by the company is expected to reach completion by mid-2009.

Al Tajir plans to focus its attention in Dubai, while its sister concern Emirate would focus on international and regional developments. In future, Al Tajir plans to launch projects that include the hospitality and commercial components.

Al Tajir mentioned that the company is shortly expected to announce the launch of a luxury five star resort, and another commercial project.

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