Category Archives: Real Estate Dubai

Following remarkable response to Vincitore Palacio’s market debut in 2016 inspires launch of second project  

Image - Vincitore BoulevardVincitore Real Estate Development unveils Vincitore Boulevard

Vincitore Real Estate Development, Dubai’s first quality branded real estate developer, recently announced the launch of its second project in Dubai, Vincitore Boulevard, following the notable success of its flagship property, the Vincitore Palacio, which was launched in 2016 within Al Barsha South master-planned Arjan district. The new project, located in the same district, will span over 173,337 square feet.

The building houses 216 residential apartments comprising plus

h studios and ensuite one-bedroom units and hosts about 30 boutique retail outlets. The development is expected to become operational by April 2019. Vincitore Boulevard was designed by celebrity architects inspired by a fusion of European and Emirati designs to create an iconic property offering versatility, comfort and luxury living.

Delivering quality, style and functionality, tailored to clients with a taste for elegance as well as market value, Vincitore Boulevard offers convenient access to parks, schools, clinics, shopping centres and restaurants, providing prospective owners with the most comfortable living experience possible.

Each residence at Vincitore’s second branded project spans impressive living spaces and state-of-the-art technology, incorporated in the layout with sophistication. The development also offers an unmatched blend of amenities and services such as infinity pools, a wave pool, a modern gymnasium, a library and podium gardens that set the tone of its signature ambience. For a starting price of AED 555,000 inclusive of a post-handover payment plan, the project makes it more financially viable for discerning homeowners looking to buy an apartment in the emirate.

Vijay Doshi, Managing Director, Vincitore Real Estate Development, said: “Demand for quality-driven residences remains a top priority for property buyers. It is very essential that properties are built with precision and excellence because that is the mark of a truly valuable property. This is the kind of property development that we would like to offer and contribute to the growth of Dubai as one of the world’s most sustainable cities.”

Dubai has been continuously developing legislations to improve the sector and the Real Estate Regulatory Agency has been making strides towards implementing more regulations to control the way buildings are built such as the possible introduction of a mandatory building inspection procedures, which would ensure inspections are done before the handover.

Vincitore Real Estate Development is tapping into a niche market for its product while catering to a diverse multicultural client base. The company aims to continue catering the huge untapped Dubai market of Branded high-quality real estate @ affordable price and lucrative post hand over payment plans.

Falconcity of Wonders to support Dubai’s 2021 real estate vision at latest Cityscape Global

 

UAE, September 4, 2016 – Falconcity of Wonders LLC, the developer of Falconcity of Wonders (FCW) the multipurpose mega project currently being built in Dubai, has confirmed that it will be participating in the upcoming Cityscape Global taking place from September 6 to 8, 2016 at the Dubai World Trade Centre to support Dubai’s real estate strategy under its Plan 2021 agenda.

 

The leading developer will also be revealing the status of some of its current projects, particularly its townhouses and the new community club in the Western Residence area. According to FCW senior officials, the construction of townhouses is well in progress. The project covers the construction of 25 new townhouses measuring at 2,850 square feet each and will have 3 bedrooms plus a maid’s room per unit. In addition, the community club being developed for the Western Residence is nearing completion. The facility is set to feature a tennis court, swimming pool, kids playing area, library, spa, ladies’ salon, mini mart, restaurant, squash court, gym, basketball court, landscaped gardens and car parking.

 

Falconcity of Wonders will capitalize on the event’s huge popularity to reinforce Dubai’s stature as the region’s premier real estate hub. The company’s iconic falcon-shaped mega development featuring the Wonders of the World is a perennial crowd-drawer during Cityscape’s Dubai edition. It embodies the emirate’s synergy of heritage, modernity, and cultural diversity as well as its ambition to become a ‘Preferred Place to Live, Work & Visit’ and ‘A Smart & Sustainable City’ – two underpinning themes of Dubai Plan 2021.

 

H.E. Salem Al Moosa, Chairman and General Manager, Falconcity of Wonders LLC, said:  For Falconcity of Wonders, the show is an excellent opportunity to build greater confidence in our project, discuss existing and future plans with present and potential investors, and touch base with the target and global audiences.”

 

Now on its 15th year, Cityscape Global is one of the largest and most influential real estate exhibitions in the Middle East. It provides a platform for showcasing the UAE’s numerous and diverse real estate investment opportunities and highlights Dubai’s image in particular as a preferred business and investment destination and one of the world’s safest and most lucrative property markets.Image (1)

Drake & Scull announces H1 2016 Financial Results

UAE, 15 August 2016 – Drake & Scull International PJSC (DSI), a regional leader in engineering, procurement, construction and commissioning, reported its financial results for the first half of the fiscal year ended 30 June 2016.

Operational progress in Q2 2016 continued to follow the trends observed in Q1 2016, with a noted improvement in revenue and operational performance on newly awarded projects within the core UAE market and a noticeable decline in the rest of the region. Furthermore, a growing order intake in the Rail & Infrastructure as well as Oil & Gas divisions in Qatar and Iraq has helped offset a slowdown in activity in key markets such as the Kingdom of Saudi Arabia (KSA).

H1 2016 Highlights

• Extended slowdown in the construction sector has impacted H1 2016 financials adversely
• Revenue of AED 1.83 billion in H1 2016
• Net loss for the period of AED 216 million mainly attributed to project cancellations and added one-off provisions
• Total backlog stands at AED 9.37 billion as of 30th June 2016
• New project wins in Rail & Infrastructure and Oil & Gas sectors amounting to AED 570 million
• Promising outlook for the company in the GCC rail sector
• Ongoing measures to strengthen the balance sheet, optimize the capital structure, boost working capital, reduce overheads and improve operational efficiency
• Continued progress in disposal of non-core assets
• Operational restructuring resulted in QoQ SG&A savings of AED 14.2 million

Q2 2016 Highlights

• Q2 2016 revenue of AED 805 million
• Q2 2016 net loss of AED 225 million
• Total impact of project cancellations, additional one-off provisions and adjustments taken in Q2 2016 amount to AED 192 million
• Total value of project awards secured in Q2 2016 is AED 227 million

DSI reported a year on year decline of 23 % in revenue, which stood at AED 1.83 billion in H1 2016 as compared to AED 2.39 billion achieved in H1 2015. The fall in revenue is due to the significant contraction and prolonged volatility in the regional construction sector, the slow progress on ongoing projects, a decline in new project awards and adjustments across key markets in the GCC.

The net loss for H1 2016 was AED 216 million as compared to a net profit of AED 34 million in H1 2015. The loss is specifically attributable to project cancellations and more one-off provisions taken in light of the challenges in the sector. A majority of these provisions emanate from Saudi Arabia, with the total impact on the bottom line amounting to AED 192 million. These cancellations were executed by clients on individual one-off projects with minimal bearing on DSI’s ability to continue operations in Saudi Arabia and other markets.

DSI’s ongoing projects order backlog stood at AED 9.37 billion as of 30 June 2016, as compared to AED 13.24 billion in H1 2015. The decline in the projects’ backlog reflects the adjustments carried out in Q2 2016 pertinent to project cancellations in KSA.

Despite the slowdown in the regional project awards, DSI managed to secure AED 570 million worth of new project awards year to date including the AED 343 million Doha Metro Depot and Stabilising Yards contract as well as the AED 227 million Zubair Oil Field project in Iraq. These key wins further reinforce the company’s strategic decision to concentrate on sector-specific, core engineering projects with high operating margins.

DSI has also remained on track with its cost-reduction programme which will improve operational efficiency and cut overheads. The company has implemented a number of measures and initiatives to optimize its capital structure, including the sale of non-core assets to generate cash and improve liquidity. The cost-reduction programme is progressing on schedule and is expected to realize significant cost savings by the end of 2016.

Commenting on the results, Khaldoun Tabari, CEO and Vice Chairman of Drake & Scull International PJSC, said: “Our financial results have been impacted due to the substantial provisions for project delays and cancellations over the last six months, brought on by clients principally based in Saudi Arabia. We believe that these developments show the considerable challenges we have faced across the region due to a very challenging macro-economic environment.

We are in the process of embarking on a new strategy to reposition ourselves as a leader in the market. We will also initiate fundamental changes to our group and leadership structure which will be supplemented by a reorganization and realignment of senior management roles as part of our efforts to enhance and streamline our operative framework.

Despite the challenges, our business remains operationally and financially robust. Due to our longstanding partnership with major international and local banks, we continue to retain strong lines of credit and secured access to funding to deliver our ongoing projects backlog. We remain committed and focused on running efficient, low-cost and sustainable and cash generating operations and are confident about the medium- and long-term prospects of the regional industry.”

FM EXPO increases exhibition space by 25 per cent for its 10th edition  

Emirates Property-what's your property cravings?

Region’s largest FM event to take center stage at pioneering Community Management Week

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  • FM EXPO is Middle East’s largest Facilities Management event
  • Over 150 exhibiting companies from 19 countries and 10,000 visitors
  • Part of the first Community Management Week
  • Features 15 free-to-attend continuing professional develop (CPD)certifies workshops, 6 FM Masterclasses, FM World Congress and Middle East High Rise Summit

Dubai, UAE, 27 April 2016: FM EXPO, the Middle East’s largest facilities management event, will be taking place from May 23 to 25, 2016 at the Dubai World Trade Centre. The 10th edition of the event reflects its long-standing commitment towards the industry. With a 25 per cent increase in exhibition space compared to 2015, it will host over 150 companies from 19 countries showcasing their innovative solutions to nearly 10,000 visitors.

Aside from a vast display of cutting-edge technologies, products and services, the show will deliver an extensive and…

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myOffice enhance their serviced office concept by introducing Platinum Offices in Marina Plaza.

Marina Plaza Image 5DUBAI, United Arab Emirates:- myOffice Business Centre have successfully rolled out their first Platinum Serviced Offices in Emaar’s Marina Plaza on the 29th floor. This luxury facility comes with panoramic views of the Marina, the sea front and the Sheikh Zayed Road.

The first of its kind, state of the art Serviced Business Centre provides local and international clients with a complete range of tailored concierge business solutions, The 24,000 sqft facility, includes boardrooms, meeting rooms, and a business lounge plus state of the art laptop bar and internet café, events area, luxury fitted serviced office space, phone answering and support services and DED licensing to full logistical and secretarial support.

myOffice strategically chose to launch their first platinum facility at Marina Plaza due to its prestige placement adjacent to Dubai Marina Mall, with onsite parking making it easy to access the surrounding Marina cafes, restaurants and leisure facilities. It is also only a two-minute walk from the Marina Metro Station and a five-minute walk to Jumeirah Beach Residences and Jumeirah Lake Towers.

Following a 5-year stable growth pattern and with 120% full business space occupancy myOffice has taken the steps to diversify their business operations based on client demand requiring personalised concierge and luxury facilities. Whilst the clients business grows myOffice has also taken it in their stride to cater for their growing needs. With the Platinum facilities, myOffice are superseding their client’s expectation.

myOffice specialize in supporting Small Medium Enterprises to start up their companies and as they have grown the demand for luxury concierge services has also increased over the past 3 years. The increase in demand has been largely attributed to international corporates entering the local market. The platinum offices are thus perfect for the international corporates entering the market and the successful SME’s who are taking their business to the next level.

Joint Shareholders (myOffice) comment:

Starting out in 2011, we knew that the serviced office market needed a facility that catered to high-end businesses. We also knew that clients were looking for more tailor-made, personalised services for their business needs. Little did we realise, that after the opening of the Dubai Downtown office, that our recipe for providing the perfect business centre for new and existing businesses would become so popular with local and international businesses that we would have to diversify onto a higher standard of luxury by introducing the platinum facility.

Only six months after opening our first office, we grew beyond measure, opening a further four new business centres across Dubai and Saudi Arabia.

Having now developed a strong and adaptable Management Program and expansion strategy, we plan to roll out further luxury platinum serviced facilities at a steady rate over the next five years.

In line with our growth story, we are always on the lookout for both independent and corporate investors to further our reach. The UAE is one of the fastest growing business markets in the world; located in the middle of the western world and far eastern business world puts us in a desirable position for business transit and a middle point for businesses to meet”.

myOffice Business Centre has proven to be a successful investment for its shareholders, return on investments successfully reached approximately 50% in the first 5 years of operations. Renewal rate of 80% has been achieved through in-house office leasing clients in addition to over 500 companies using myOffices business address and phone answering services. myOffice business relationships have been generated through business to business agreements and referral systems that have given myOffice the opportunity to form solid foundations and relationships with their growing clientele.

Event Information at new facility

As part of the myOffice business support, a Partner Alliance event is being hosted at the new platinum luxury serviced facility at the Marina Plaza, 29th floor events space on Wednesday 10th February at 6pm where new businesses are introduced and encouraged to exchange business links, ideas and relationships to help their organization to connect with the business market. So far 8 out of 10 businesses exchange and transact on business through the myOffice introductory system. The Event will be driven by myOffice.

Dubai Properties’ Mudon Townhouses Sold Out at the International Property Show 2015

 Strong Response Reflects Developer’s Commitment to Address End Users and Investors’ Needs for High Value Property Offerings in Dubai

UAE, April 1, 2015 – Dubai Properties, a leading real estate developer, has successfully sold out all its four-bedroom townhouses in its upscale Mudon development, during its participation at International Property Show 2015, which was held at the Dubai World Trade Centre. Launched during the second half of last year, the 120 units ranging from 3,786 to 3,800 square feet were sold out during the event.

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The overwhelming response is a testament to the developer’s commitment to provide solutions that cater to the needs of end-users and investors who are looking for value for money properties in the emirate.

Abdulla Abushabieb, Executive Director Sales and Customer Care at Dubai Properties, said: “After we launched the Mudon development, the first phase of the residential units were immediately sold. At the recent International Property Show, buyers also evinced strong interest in the remaining 120 townhouses released in summer of 2014. We attribute this sellout response to the community’s value for money proposition as compared to other offerings within the same segment.”

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With prices starting from AED 2.5 million, the gated Mudon community is surrounded by beautifully landscaped neighborhood parks with easy access to various modern amenities. Since its launch last year, Mudon has become one of Dubai Properties’ most sought after projects and Dubai’s most popular residential communities.

In developing Mudon, Dubai Properties made sure that the upscale community will allow residents to lead a tranquil yet active and vibrant lifestyle. The company also tied up with GEMS Education to open a GEMS School inside the community by September 2016.

The community also offers amenities that will include cycle routes, jogging paths, play areas, a swimming pool, and a gym.  An attractive mix of retail outlets will also be available for the residents’ convenience.

Dubai Properties’ competitive edge is its unique residential and mixed-use developments in Dubai. Aside from Mudon, its portfolio of modern properties also includes the Jumeirah Beach Residence, The Villa, Layan in Dubailand, as well as The Executives Towers, Vision Tower and Bay Square in Business Bay.

AZIZI Developments to showcase upscale residential project at International Property Show 2015

Company to offer attractive opportunities to investors on current & ongoing properties

UAE, 28 March, 2015 – AZIZI Developments, a leading UAE property developer, will be participating in the 11th International Property Show (IPS) 2015, taking place from March 30 to April 1, 2015 at the Dubai World Trade Center (DWTC). During its presence at the show, the developer will showcase all its current and upcoming projects in Dubai to potential investors and end-users. AZIZI Development’s property experts will use the IPS’s interactive format to engage with the visitors to provide them with detailed information about each property such as floor plans, materials used, date of completion, price options, and financing options.

 

Throwing the spotlight on its current mid-level luxury projects located in the strategic locations of Dubai, AZIZI Developments will offer lucrative investment opportunities to buyers and end-users during the IPS 2015. The company boasts of five large-scale, premium residential projects, including AZIZI Iris, AZIZI Liatris, AZIZI Orchid, AZIZI Yasmine, and AZIZI Feirouz. The company is developing all the properties with an aim to provide its customers with an upscale and unique living experience in Dubai as well high return on their investment.

 

Ali Omar , CEO , Azizi Developments
Ali Omar , CEO , Azizi Developments

Ali Omar, CEO, AZIZI Developments, said: “Dubai has managed to position itself as the world’s leading destination for property buyers and investors post-recession as is demonstrated by the success of events such as the IPS. AZIZI Developments will leverage the exhibition to showcase its mid-end residential projects to interested investors and end-users. The IPS is a perfect platform for AZIZI Developments to fuel growth for its properties that have already spurred tremendous interest among serious buyers due to their prime location, unmatched facilities, and high-quality finishing. The participation in such events is in line with the company’s strategic move to offer its unique properties to discerning buyers and at the same time promote its brand name to a global audience.”

Held under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and accredited by the Dubai Real Estate Regulatory Authority (RERA), IPS is a pioneering exhibition for selling and promoting real estate to individuals and institutional investors. The Show offers a gateway for international and local real estate developers to exhibit their residential, commercial and mixed-used developments to close successful deals. For more information, visit http://www.internationalpropertyshow.ae/.

AZIZI Developments have invested over AED 4.5 billion in Dubai’s real estate sector. It currently offers five residential projects in one of Dubai’s prime areas, Al Furjan, AZIZI Iris, AZIZI Liatris, AZIZI Orchid, AZIZI Yasmine, and AZIZI Feirouz  which are all in various stages of the construction progress. Al Furjan is a residential master development which is part of Jebel Ali 1 in Dubai.  The area is minutes away from Dubai Marina, JBR and the public beach, the Al Maktoum Airport, the Expo 2020 site and many more attractions.

 

Dubai Properties participates as a Strategic Partner of International Property Show 2015

By Anitha Lakshminarayanan

UAE, March 15, 2015 – Dubai Properties, leading real estate developer, has announced its participation as an exclusive Strategic Partner for the latest edition of the International Property Show, an annual pioneering event for real estate companies, as an exclusive Strategic Partner. An event for sales and promotion of properties to individual and institutional investors, the show will be held from March 30 to April 1, 2015 at the Dubai World Trade Center.

 

Dubai Properties will use this platform to launch new projects potential buyers and investors from the MENA region and beyond.

 

Mohammed Al Habbai, Chief Officer – Urban Planning and Infrastructure, Dubai Properties Group, said: “We have decided to take part in the International Property Show as an exclusive Strategic Partner as it will enable us to reach out to a global audience of investors and buyers who are looking to buy residential or commercial property in Dubai. The demand for the properties in the emirate has witnessed a tremendous growth in the last couple of years from both local and international investors and the Show will be a unique opportunity to showcase DP’s rich portfolio of unique properties spread across the emirate to them. We are confident that through our presence in the International Property Show, we will be able to leverage these demands from potential buyers and investors and covert into successful deals and at the same time, showcase the growth and development in the UAE’s real estate to a global audience.”

 

Dawood Al Shezawi, CEO of Strategic Marketing & Exhibitions, organizers of the International Property Show (IPS), said: “We are delighted to welcome Dubai Properties, one of UAE’s leading real estate developers, as exclusive Strategic Partner to the International Property Show. The presence of Dubai Properties’ quality and broad scale real estate portfolios at the show perfectly fits the direct-sales profile of International Property Show and offers end-users and local and international investors an ideal opportunity to explore great properties on offer in UAE. With Dubai Properties as our Strategic Partner, International Property Show also expects to further build the promotion and image of the UAE’s real estate sector on a global scale. The presence of strong international delegations from China and the KSA along with countries from Southeast Asia and Africa, among others at the show attending the co-located Annual Investment Meeting, will be a perfect opportunity to show and educate investors about the attractiveness of the UAE real estate sector.”

 

Held in conjunction with the Annual Investment Meeting, the International Property Show will enable Dubai Properties to improve its profitability and enhance its competitive edge. The special features of the event, including the Dubai Land Department Property Valley, the International Property Show Real Estate Forum and high-profile Networking Events will provide valuable opportunities for the company to reach out to an élite clientage of international investors, giving it an extensive regional and global brand exposure.

Please contact Anitha Lakshminarayanan-freelance writer (writer for Gulf News), Freelance Journalist at

anithaideas@gmail.com for covering an event, public relations writing, conducting interviews or advertising on this blog or to know more about my writing-visit

http://anithaideas.com/

 

 

Dubai Properties’ Dubai Wharf development draws tremendous investor response during the debut of Dubai Property Show in London  

By Anitha Lakshminarayanan

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UAE, March 4, 2015 – Dubai Properties, a leading real estate developer received an overwhelming response from property buyers and investors during its participation at the recently held Dubai Property Show 2015 at London’s Olympia. Welcoming the large number of visitors, the début edition of the exhibition was opened by H.H. Sheikh Mohammed Bin Maktoum Al Maktoum, First Secretary at the UAE Embassy in UK, in the presence of Emirati dignitaries H.E. Sultan Butti Bin Mejren,  Director General of Dubai Land Department (DLD), and Majida Ali Rashid, DLD’s Assistant Director General. The property show offered a unique platform for Dubai Properties to generate sales and inquiries for its landmark projects in Dubai.  During its participation at the recently held Dubai Property Show 2015 at London’s Olympia. Welcoming the large number of visitors, the début edition of the exhibition was opened by H.H. Sheikh Mohammed Bin Maktoum Al Maktoum, First Secretary at the UAE Embassy in UK, in the presence of Emirati dignitaries H.E. Sultan Butti Bin Mejren,  Director General of Dubai Land Department (DLD), and Majida Ali Rashid, DLD’s Assistant Director General. The property show offered a unique platform for Dubai Properties to generate sales and requests for its landmark projects in Dubai.

The Dubai Properties’ stand, which showcased its current portfolio of projects, generated a high number of footfalls during the three-day event.  Its AED 800 million mixed-use Dubai Wharf  specifically attracted strong interest from prospective investors. Located in the heart of Culture Village, Dubai Wharf  overlooks a canal promenade next to the historic Dubai Creek. Its unique and contemporary design, strategic location, and easy accessibility will put the modern development as the most sought-after lifestyle, dining and entertainment hub.

Abdulla Abushabieb, Executive Director Sales and Customer Service, Dubai Properties, said: “Dubai is a popular investment destination for British property seekers who are attracted to its tax-free economy, safe and secure living environment, and high standard of living. The Dubai Property Show was an excellent gateway for us to reach out to genuine investors and buyers and offer them our properties after assessing their requirements.”

“Dubai Properties’ registered  around 4000 visitors over the 3 days of the event, the  majority of who showed keen interest in our projects, especially in the residential segment. Dubai Wharf, in particular, received tremendous response from people who were looking forward to make Dubai as their second home. We are confident of converting the leads received during the show into actual sales,” added Abushabieb.

Dubai Properties has delivered some of the most popular residential and mixed-use developments in Dubai, including the Jumeirah Beach Residence, The Villa, Mudon and Layan in Dubailand, as well as The Executives Towers, Vision Tower and Bay Square at Business Bay.

Please contact Anitha Lakshminarayanan-freelance writer (writer for Gulf News), Freelance Journalist at

anithaideas@gmail.com for covering an event, public relations writing, conducting interviews or advertising on this blog or to know more about my writing-visit

http://anithaideas.com/

Azizi Developments will be displaying its projects to Ibn Battuta and Marina Mall AbuDhabi

AZIZI Developments have invested an estimated AED 4.5 billion in Dubai’s real estate sector                                                                 

UAE, 3 March, 2015 – AZIZI Developments, a leading UAE property developer will be displaying its competitive projects to Ibn Battuta and Marina Mall Abu Dhabi. The move is part of the company’s dynamic marketing strategy aimed at promoting its latest developments to a wider audience comprising the emirate’s residents and tourists.

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The stands will carry English and Arabic literature as well as an informative fly-through presentation of Azizi’s four residential buildings currently under construction and for sale in Al Furjan. Azizi Iris, the firm’s fifth project has been sold out, and the remaining four’s sales have reached 70 per cent. Azizi continues to carry out its marketing initiatives in line with its aim of bringing the firm’s projects right at the doorstep of its clients, locally and globally.

 

Ali Omar, CEO, Azizi Developments, said: “We chose these two commercial corridors because of their strategic locations. Ibn Battuta, particularly, is in near to our project site in Al Furjan. This allows interested clients to take a tour and observe the construction progress within minutes. Recently, we have witnessed an increased number of Abu Dhabi clients interested in properties in Al Furjan. The site is placed near Abu Dhabi and is accessible and convenient for those commuting to and back from work. So far, we  had very good response from Abu Dhabi investors, which is why we have decided to present our project in Abu Dhabi as well as in Dubai.”

Please contact Anitha Lakshminarayanan-freelance writer (writer for Gulf News), Freelance Journalist at

anithaideas@gmail.com for covering an event, public relations writing, conducting interviews or advertising on this blog or to know more about my writing visit http://anithaideas.com/