Business | Property
Al Fara'a acquires land worth Dh3b
Al Fara'a Properties, announced on Saturday that it has scaled its land bank through sizeable acquisitions, taking its total value to Dh3 billion in the UAE.
- Staff Report
- Published: 23:40 September 27, 2008
Dubai: Al Fara'a Properties, announced on Saturday that it has scaled its land bank through sizeable acquisitions, taking its total value to Dh3 billion in the UAE.
Some of the plots will be developed this year. Al Fara'a has drawn up expansion plans that will take the total value of its real estate projects to Dh10 billion by end of the year.
The land bank includes plots spread across Dubai Waterfront, Dubai Maritime City, Palm Jebel Ali, Mina Rashid, Al Reem Island, Downtown Jebel Ali and Mizin.
Al Fara'a Properties is part of Al Fara'a Construction Group, one of the largest construction groups in the UAE.
It comprises leading companies such as Unibeton Readymix, Al Fara'a General Contracting, Al Sabbah Electromechanical Construction and Belgium Aluminum and Glass.
Elaborating on the company's growth plan, Natasha Gangaramani, Director, Al Fara'a Properties, said: "Real estate has remained one of the most significant asset classes in the region, backed by strong market fundamentals and positive regulations that have enhanced investor confidence.
"As a company at the forefront of this vibrant sector, Al Fara'a Properties is committed to energising its growth by offering compelling opportunities to investors.
"Our projects combine superior design, quality and timely delivery, enabling end-users to maximise value in the long term.
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