Burooj Properties’ Launches a Property Investment Project in Jordan Dubai
During its participation in Cityscape Abu Dhabi, Burooj Properties, a solely owned subsidiary of Abu Dhabi Islamic Bank, launches property investment products within its property development project ‘Burooj Jordan’ located in Al Jeezah - south Amman. In addition, the company will allocate part of its booth in the exhibition for its Jordanian real estate projects to be presented to attendees of the exhibition taking place during June 8-10, 2007 in the UAE. Held under the patronage of His Highness General Sheikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Cityscape Abu Dhabi exhibition is the region’s premium property development and investment showcase, attracting more than 200 exhibitors from over 500 different countries, represented by key international and regional real estate companies, investors, architects, designers, in addition to businessmen and real estate specialists. Established in partnership with the Jordanian Company ‘Al Bustan Real Estate’, the ‘Burooj Jordan’ project consists of more than 130 pieces of lands allocated for residential units, handicrafts and light industrial use, within a master plan developed in compliance with the highest international standards, to offer a full range of services. Situated on a strategic location on the airport road, and 35km away from the 7th circle, ‘Burooj Jordan’ is approximately 56000sqm of master planned development divided into 130 pieces, combining groups of residential units with different spaces ranging between 750 – 1000sqm per each, and with the possibility of establishing a 24m (four floors) residential buildings. In addition, the master plan will include groups of lands allocated for light industrial use with spaces ranging between 1000-1200sqm, and others for handicrafts uses with spaces ranging between 300-400sqm. Meanwhile, the company will allow those interested in the project, to reserve their units by securing a down payment. ‘Burooj Jordan’ project includes main wide roads, and other branch roads to link between all project parts, hence connecting it through a direct main road to the Airport road. In addition, the project enjoys all infrastructure basics such as water and wastewater infrastructure, telecommunications, electricity, as well as nearby service facilities such as schools, hospitals, mosques, banks, national security department, and many governmental departments. Mr. Ihsan Bilbesi, CEO of Al Bustan Real Estate said: ‘We seek through our participation in Cityscape to introduce a promising and secured real estate investment product to Jordanians residing in the UAE, as well as to Arab investors who enjoy attractive investment facilitations in Jordan’. He added: the ‘Burooj Jordan’ project is the first product that has emerged from our strategic partnership with ‘Burooj Properties’. It contributes to diversifying ‘Burooj Properties’ projects in the region and enhancing the value of our company and projects’. Burooj Properties LLC is a solely owned subsidiary of Abu Dhabi Islamic Bank. The company which was established in 2005 with a working capital of AED 500 million constitutes the property investment arm of Abu Dhabi Islamic Bank. With more than 5 years of experience in the Real Estate business, Burooj Properties is actively engaged in several mega projects in the region. Al Bustan Real Estate Development Company Ltd., was established in 2006 in Amman – Jordan, to utilize the solid growth in the real estate sector that the Kingdom of Jordan is witnessing, and the attractive investment opportunities available in the country.
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