Friday, July 06, 2007

Shaikh Holdings launches its first UAE development

A Dubai-based development company and real estate investment, Shaikh Holdings, has launched its first UAE development, a cluster of ninety six villas worth Dh.730 million in Jumeirah Golf Estate.

The prices of villas in the project range from Dh.7.3million to Dh19.7 million, ranging from 5600 to 10,600 square feet in size. Construction is scheduled to begin during October. The construction contract will be awarded within the next two months.

Shaikh Holdings, with its origins in Bahrain, plans to invest about $1.2billion into plenty of waterfront-themed and golf projects throughout the UAE within the next five years.

The company, though new to the Dubai property sector is a major investor in the property within the emirate since the year 2002, with investments in major developments such as the Business Bay, Palm Islands, Jumeirah Golf Estates and Dubai Waterfront. It has also ventured into partnerships with major real estate players in the market.

The CEO of Shaikh Holdings, Imran Shaikh, said "This is our first development project in Dubai, though we are currently working on a number of other projects too. We wish to buy more land at Jumeirah Golf Estates and are working on it. We have also acquired few pieces of land in other deals, and are exploring various other options."

Designed by DSA Architects, the villas within Sanctuary Falls overlook the Earth Golf Course, designed by Greg Norman at Jumeirah Golf Estates.

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