Al Burj Real Estate, one of the leading private stock firms in the Gulf region, stated that it had achieved sales of over dirhams 1.75 billion ($476 million) within two months of offering properties for sale in Phase I of Madinat Al Arab.
The company had made a significant investment in Phase I of the iconic Madinat Al Arab, the planned urban downtown at the heart of Dubai Waterfront. Madinat Al Arab is the first phase of construction of The Dubai Waterfront Company, a newly instituted venture by Nakheel that will develop the largest water front development in the world.
The project aims to occupy the majority of sea facing land on the last remaining beach front real estate in Dubai.
© 2006 Mena Report (www.menareport.com)
