Al Fara’a Affirms Steady Construction Progress Across Its Development

Despite of the present Dubai property market scenario, Al Fara’a Properties, a member of Al Fara’a Construction Property and Industrial Group has confirmed the steady growth of their projects because of which delivery of several other projects in the UAE got delayed. This construction group has a solid track record of three decades now. The developer of the projects announced that the track hits the delivery targets for Mulberry Mansions and The Manhattan. These both are scheduled for the last quarter of the year. This announcement indicates that the developer is committed to deliver the projects in the stipulated time in order to safeguard the interests of the investors and customers.

The Manhattan will offer 355 units featuring one to three bedroom apartments and selection from wide varieties of studios. Murberry Mansions is the leading third project unit being developed within Jumeirah Village comprises of Victorian-style townhouses, terrace, private garage along with maid’s room with a separate access. In addition, the residents enjoy the benefits of top class educational and medical facilities along with movie theaters, shopping malls, parks and beaches. The Director of Al Fara’a properties, Natasha Gangaramani commented on the progress: “Construction on ‘The Manhattan’ is on schedule, with the ground floor slab already constructed in its entirety, including the ramps leading to the three basements. We believe that swift, efficient and timely handover of projects holds as much importance to investor as the value of investment driven by construction quality and facilities offered.”

Gangaramani further added: “Backed by the three decade strong solid track record of the Al Fara’a Group as well as the flexibility to meet our primary goal of excellence, we have recently launched our facilities management division, which will enable us to ensure that all our on-going projects will be built according to global best practices.”

30 Percent Increase in Property Prices in Jumeirah Village

Dubai real estate has now witnessed a 9 month period of decline. Moreover, now some early signs of recovery of the property sector can be seen. According to some recent reports, the property prices in Jumeirah Village have tremendously increased. The prices have climbed by 30 percent from their lower levels of pricing in January this year. As far as property in this community is concerned, the construction of Gardenia I & II is getting fastly tracked. This property construction is strategically located in Jumeirah Village. The construction of this project is being tracked by a well known real estate developer in Dubai, Memon Investments.

Jumeirah Village itself is a well designed community developed by a master developer; Nakheel is set to provide authentic and stylish commercial, residential and retail space. MD of Memon Investments, Ahmed Shaikhani said: “We take pride in bringing to customers a variety of property units that address their requirements in luxury and style; however, we believe that we have also proven ourselves as an organization that is dedicated to fulfill our promises to our clients amidst the rise of difficult challenges.”

Moreover, this widely developed 811 hectare integrated community has not been impacted to the same degree as other residential properties in various communities across Dubai have been. Therefore, properties in Jumeirah Village still present profitable investment options for those who really want to invest their money in property sector. Thus, more and more investors are looking forward for investing in this opportunity with lower risk. Memon Investments has reported an increased demand especially for Gardenia I & II projects.

Dubai Real Estate Projects on Schedule – Memon Investing Dh 1.34 billion

Dubai has scheduled various real estate projects within the emirate. Memon Investments, one of the leading real estate developers in Dubai announced that they are well in place and on time with the construction work for all its running projects in Dubai. This is also a unit of Memon Group of companies and it announced that the construction of green buildings will continue and these new developments comprises of five new projects running at Jumeirah Village. The collective worth of the construction currently going in Dubai by this real estate developer is around Dh1.34 billion.

Ahmed Shaikhani, The Managing Director of Memon Investments said: “By taking these measures, we are increasing the potential of our projects to yield maximum investment returns, while also effectively reducing the ecological footprint, one of the common impacts of rapid advancement of developing economies such as Dubai.” This real estate developer is committed to deliver the projects despite of the cancellation of 48 property projects in the UAE. Its first development within the Champions Tower Series and the Cambridge Business Center is expected to get ready and delivered by the end of the year 2009.

As far as their new projects are concerned, Memon Investments has launched five real estate projects in Dubai Sports City. It included Frankfurt Sports Tower I and 4 towers within Champions Tower. These developments are in addition to Jumeirah Village Gardenia I and II and a construction in Dubai Silicon Oasis as well named Cambridge Business Center. Ahmed Shaikhani said: “The global recession has created an astounding backlash to the regional real estate sector that has even the largest real estate players in the region reeling from its blows. We are proud to be still standing strong amidst the downward momentum that is sweeping the regional real estate market. We are confident that the current economic conditions will have little effect on the construction of our projects."