Friday, June 22, 2007

Shaikh Holdings willing to invest Dh.4.41bn in UAE Realty

Shaikh Holdings, which is a real estate development and investment company, has announced its intention to invest Dh.4.41 billion ($1.2 billion) in the next five years in major waterfront and golf communities in the UAE.

A community with ninety six villas on Earth golf course in the Jumeirah Golf Estates, Dubai, is likely to be the first among the developments of Shaikh Holdings. These landscaped villas are expected to be put on sale next month.

Shaikh Holdings has actually diversified its interest from core trading into expansion of real estate developments in regional and international markets.

The company's portfolio comprises commercial, residential and hospitality real estate, and has been a leading institutional investor in the Dubai property market since the year 2002.

The Shaikh Holding's primary investments in Dubai include Business Bay, The Palm Islands, Emirates Hills, Jumeirah Golf Estates and Dubai Waterfront.

The Chairman of Shaikh Holdings, Kaiser Shaikh, said "We have been making considerable investments in the projects of Dubai government's developers since the year 2002."

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