Friday, August 10, 2007

ETA Star's expansion plans

ETA Star plans to double its portfolio next year with a series of project launches on the Dubai Waterfront master development near Palm Jebel Ali.

The company will launch its four million square foot, Dubai Waterfront land bank towards next of next year, which is a major portion of the Dh.8billion projects that it plans to announce in 2008. The projects will range from residential buildings to hotels and serviced apartments.

This year the company plans to complete its on-going construction works on Star Metro, the eight storey apartment tower in Deira, and the Star metro located at Al Barsha. The mixed-use freehold project, The Palladium, at Jumeirah Lake Towers is also nearing completion and will be delivered towards end of this year.

ETA Star also plans to launch another two new projects in Dubai this year. The first one being, a Dh.2b development at the Dubailand master development, featuring a group of low rise residential blocks, which is expected to house 800 units. Another project is the launch of small scale residential project worth Dh.100million expected to house about 100 units.

ETA Star is working on projects outside the UAE, and aims to generate 40 percent of its revenue from international projects by 2009. Countries such as Eypt, Turkey, India and Oman are already in ETA's hit list for new projects.

On the whole, ETA has a portfolio of Dh.8billion

No comments: