Saturday, June 09, 2007

Deyaar projects witnesses hundred percent sale

The realty firm, Deyaar, has confirmed that it has sold out four projects, worth Dh.1 billion within a few days of launch, thereby beginning a new trend in the vibrant property sector of the region.

Among the four projects that have been sold, Fiftyone @ Business Bay and Mayfair Residency were sold out on the first day of the launch, and the other projects Metropolis and Mayfair Tower were sold within a week, thereafter.

The CEO of Deyaar, Zack Shahin, said the quick sale of their projects proves that investors considered Deyaar to be a leading regional developer. He said "The speedy sale of Fiftyone @ Business Bay and Mayfair Residency is due to a combination of factors - compatibility with the needs of investors, architectural splendour, flexible payment terms and the substantial demand for Deyaar developments by investors."

Currently, Deyaar is in the process of expanding its real estate portfolio and has announced various other new freehold developments, so that the soaring demand for residential and office space in the city could be met.

Deyaar is one among the major real estate players in the region, with commercial and residential projects to its credit in the UAE, London and Turkey with approximately 16,000 units in its UAE portfolio alone.

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