Sweet Homes to invest AED 2 billion into booming Middle East real estate sector in 2008
Sweet Homes, a leading property developer, has announced its plan to invest AED 2 billion into the region's property development sector in 2008, through a series of launches of high profile residential, commercial and mixed-use developments. As a part of the developer's aggressive expansion towards penetrating the USD 2.4 trillion Middle East real estate market, Sweet Homes has also announced plans to launch new developments in the other emirates of the UAE, and in the neighbouring states of Qatar, Oman, Saudi Arabia and in other parts of GCC. The move follows the recent launch of the AED 2.5 billion Ajman Uptown project, the first freehold villa and townhouse community in the emirate of Ajman.
With a current project portfolio valued at AED 3.5 billion, including its two primary projects in Ajman - Rainbow Towers and Ajman Uptown, Sweet Homes has identified the highly progressive emirates of Dubai and Abu Dhabi as key markets to penetrate within the first phase of its regional expansion plans. The developer is positive that its future projects within the UAE will exceed the accomplishments achieved by its previous ventures, thereby extending its strong reputation in Ajman and building a significant presence across the entire country. Following the first phase of investment, Sweet Homes will be embarking on a region-wide expansion plan, which will cover Qatar, Oman and Saudi Arabia.
"The Middle East presents an enormous array of opportunities within the highly dynamic real estate market, which has attracted an influx of local, regional, and international developers all vying to get a their own prominent standing in the market," said Fahad Sattar Dero, CEO, Sweet Homes Group. "With our success in the property development arena in the UAE reaching new heights, the next step for us is to seek more prospects in the regional market by launching unique projects through highly localised marketing plans. We have been greatly inspired by the outstanding performance and the overwhelming interest generated by our latest venture, Ajman Uptown, and we are now looking forward to surpassing great expectations from customers and further build a strong reputation for Sweet Home in this highly competitive market."
Delivering a holistic range services to its clients, Sweet Homes plans to leverage its extensive regional experience in the promotion, marketing and overall management of several high profile projects such as International City, Rufi Twin Towers, DEC Towers, Al Naemiyah Towers, Al Khor Towers, Corniche Towers, Falcon Office Tower and Falcon Residential Tower. In addition, the company has also announced its plans to expand its roster of high value offerings to include contracting, engineering consultancy, feasibility studies and research, and funds management, which are being developed to deliver excellent after sales services and ensure customer satisfaction.
"The past four years have witnessed tremendous growth for Sweet Homes in terms of investments as a developer, in addition to the significant expansion in our offered services, which now covers almost the entire management, promotion and purchase processes for both real estate companies and customers. In our focus to emerge as one of the frontrunners in the market, we are exerting all our efforts to provide value-added services and utilise our highly specialised resources such as our in-house media communications arm to fully develop our company as a key brand," concluded Dero.
Sweet Homes has launched two prime residential projects in the UAE, namely the Rainbow Towers and the recently launched Ajman Uptown, which was unveiled by Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman in a ceremony held in November 2007. The project, which covers four million square feet of land that is directly accessible from the Emirates Road, offers a unique and flexible four-year self-financed payment scheme, which will allow investors to pay up to 50 per cent of the value until the project's completion, 25 per cent upon delivery and the remaining 25 per cent after the handover. The villas and townhouses boast of classic French architecture accentuating the overall theme of the project, which is 'L' Art De Vivre' or 'Redefining the Art of Living'.
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