Tameer Holding Company, one of the biggest real estate developers in the Middle East region, announced the sale of the first stage of Princess Village (Qaryat al-Amira) Project, which it sets up in the Emirate of Ajman by a total investment of $1.2 billion, reported Al-Sharq al-Awsat newspaper on September 21.

The chairman of Tameer Holding Company, Omar Ayesh, said that during the company's participation in Cityscape 2005 Exhibition (ended on September 20
in Dubai), Tameer sold 15 out of 42 buildings included in the project, in addition to 50 out of 161 land plots included in the project. The area of each land plot is 10,000 square meters. Sales through the exhibition form approximately 35% of the project, which composed also of hotel apartments and commercial market on a 500,000 square meters area, located in a strategic location on the Emirates road, 15 minutes away from Dubai international airport.

© 2005 Mena Report (www.menareport.com)