Business | Construction
Emaar on schedule with UAQ Marina development
Emaar Properties says it is on schedule with its Umm Al Quwain Marina development, with construction work under way.
- By Suzanne Fenton, Staff Reporter
- Published: 23:47 March 21, 2008
Dubai: Emaar Properties says it is on schedule with its Umm Al Quwain Marina development, with construction work under way.
Umm Al Quwain Marina, with a development value of Dh12 billion, has already launched sales of villas and townhouses within the first residential phase of the project, according to an Emaar spokesperson
Emaar also recently hosted a limited edition sale of villas within the marina, which saw a good response from investors, the spokesperson said.
Emaar currently enjoys an international project portfolio of over Dh286 billion spreading from the UAE, Middle East and North Africa to the Indian subcontinent and South Asia. This Dh286 billion does not including the company's largest international project currently under way in Libya, the Zowara-Abou Kemash development.
Mohammad Al Abbar, chairman of Emaar, said Libya holds great potential for growth. "We are focused on developing the country's infrastructure to support trade, tourism, industrial and service sectors which will create economic alternatives and reduce dependence on oil," he said.
In the UAE, Emaar's development portfolio is over Dh90 billion, excluding the Emirates Living neighbourhood that is already established.
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