Leading UAE-based property development company, Durar (‘jewels’ in Arabic) Properties, unveiled its newest residential project in Dubai today, at a gala event held at the spectacular Mina A’ Salam last evening.
Durar 1, a twin-building development, is a joint venture between Durar Properties and Ali and Sons, and is ably supported by leading Saudi-based real estate and property investment groups, Zuhair Al Habib, Saleh Al Habib Investments and Al Mutawa Investments.
“The involvement from Saudi Arabia in this project highlights the growing interest of the global community in the local real estate industry, with the UAE real estate sector attracting SAR 30 billion of investments in 2007. Durar Properties remains at the forefront of this trend and we anticipate continued support from the Kingdom ensuring that we build on our initial successes and launch even more lucrative projects in 2009 and the coming years,” said Mohammed Miqdadi, General Manager, Durar Properties.
“Increased Saudi investment into the UAE has been driven by the emergence of government legislation aimed at protecting investors, which is steadily being refined to benefit more buyers. Our tie-up with Durar Properties is a testament to our decision to further our presence in this highly lucrative market and is poised to strengthen and build our reputation for quality and reliability,” added Zuhair Abdul Aziz Al Habib, Director and Chairman, Zuhair Al Habib (KSA).
Promising the ultimate in contemporary living, Durar 1 will be conveniently-located at Residence complex in Dubailand, the region's largest tourism, leisure, entertainment and lifestyle destination. “Durar 1 will be one of the most sought-after residential projects within Dubailand, providing discerning investors a unique opportunity to own a home on a freehold basis in this high-growth district. With its eye-catching architectural design, modern state-of-the-art interiors and unparalleled facilities, Durar 1 is the astute investment for those seeking not just an apartment, but a home,” continued Miqdadi.
Facilities that make Durar 1 the ‘ultimate home’ include sky gardens, temperature-controlled roof-top pools, impressive reception lobby, high speed elevators, sauna and steam rooms, fully-equipped gym, excellent communication facilities, 24/7 security and maintenance, separate children’s play area, a nursery that meets the highest international standards not to mention ample parking facilities and the buzz and excitement of Dubailand just outside one’s doorstep.
“Durar 1 has been conceptualized as a family-friendly development and this is evident when you look at the positioning of the facilities and the comfort and security we will be offering home owners, not just within the development but also during the buying stage, where we will be offering convenient financing options, in order to ensure total satisfaction and reassurance,” concluded Miqdadi.
To further enhance its growing portfolio Durar Properties recently signed a joint venture with Ali and Sons and Durar 1 is the first step of this collaboration. Durar Al Emarat Properties will operate in Dubai and act as a property management company, combining buying and selling of land, property leasing, property maintenance and feasibility study as and when there is a demand.
“Durar Properties enjoys a reputation for being a conscientious developer of real homes for contemporary lifestyles. At Ali and Sons we share this vision and are proud to have ventured into the region’s burgeoning real estate sector with a partner of such repute,” said Shamis A. Al Dhaheri, managing director, Ali and Sons LLC.
“We congratulate Durar Properties on their new venture, Durar 1, and our confident that our future collaborations with the group in the real estate sphere will be just as impressive,” he added. Construction on Durar 1 commenced in May 2008 and handover is expected in December 2009.
