Bonyan Group sells out AED 4 billion 'Sama Al Jadaf' community project
Bonyan International Investment Group, one of the leading real estate companies in Dubai, announced that it has sold out its AED 4 billion 'Sama Al Jadaf' community project, a 135-plot master development located in the Al Jadaf area in Dubai. The success of the project is part of the developer's growth amidst the booming real estate sector in the emirate, which has seen land transactions increase by 170 per cent from AED 62 billion in 2006 to AED 175 billion in 2007. Furthermore, reports have also revealed the average value of deals in 2007 was around AED 12 million or more than 65 per cent compared to the 2006 figure.
Set to offer plots ideal for residential, commercial and hospitality developments, the 'Sama Al Jadaf' project has attracted investors and end-users due to the intelligent design incorporated within the entire community. Infrastructure and city services will be seamlessly integrated into the layout of the entire project, while motorists will also benefit from multiple access points and roads, which have been planned to alleviate traffic concerns. In addition, the Al Jadaf area provides a fitting location for the project due to its strategic location in close proximity to the Dubai International Airport and Dubai Festival City, and highly accessible through the Business Bay and Garhoud bridges.
"The success of the 'Sama Al Jadaf' project is a testament to the broadening scope of investor interest that Dubai is enjoying today, as we witness the coming of age of new territories that are being groomed to be the next important addresses in the country such as Al Jadaf," said Engineer Abdullah Atatreh, Chairman, Bonyan International Investment Group. "The number of local and GCC-based investors who have acquired plots within this project is also an indication of the regional market's strong support for high quality developments. We are looking forward to the completion of the properties in 'Sama Al Jadaf' in the coming years, when we will see the full impact of this project in the real estate landscape of Dubai."
In addition to the 'Sama Al Jadaf' project, the developer has recently launched its mega master development, the AED 3.5 billion 'Eye of Ajman' community development, which is spread over 6.27 million sq. ft. and comprises of 109 multi-purpose plots. Strategically located along Emirates Road in the Al Hamidiyah area, the development marks the company's first project in Ajman, which will comprise residential, office, hospitality and retail plots. Having already launched two community projects, Bonyan Group's interest in developing large-scale mixed-use master development is centred towards providing its clients properties with high return on investments.
"Following the tremendous success of our first community development, we are proud to announce that the 'Eye of Ajman' project is continuously generating the same intense response from investors and end-users. In line with these outstanding successes, our plan is to continuously nurture the confidence of our clients by delivering high quality units that meet their demands while adhering to the deadlines we have set. We are guided by our primary objective to establish a strong presence in the UAE's real estate market and a place within the industry's top five developers," concluded Eng. Atatreh.
At present, the company has developed AED 3 billion worth of residential and commercial developments, including Rose Tower and Lulu Tower, Dubai Gate 1, Sharjah Gate and ABBCO Tower. The developer is also currently undertaking regional projects and continuously enhancing its full suite of integrated and research-based services as part of its aims to expand its project portfolio to AED 10 billion in 3 years.
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