Business | Property
Bonyan sells out Dh4b project in Dubai
Bonyan International Investment Group on Tuesday said it has sold out its Dh4 billion Sama Al Jadaf community project - a 135-plot master development - located in the Al Jadaf area in Dubai.
- Staff Report
- Published: 00:08 July 2, 2008
Dubai: Bonyan International Investment Group on Tuesday said it has sold out its Dh4 billion Sama Al Jadaf community project - a 135-plot master development - located in the Al Jadaf area in Dubai.
"The success of the project is part of the developer's growth amid the booming real estate sector in the emirate, which has seen land transactions increase by 170 per cent from Dh62 billion in 2006 to Dh175 billion in 2007," the company said.
Set to offer plots ideal for residential, commercial and hospitality developments, the Sama Al Jadaf project has attracted investors and end-users due to the intelligent design incorporated within the entire community.
Infrastructure and city services will be seamlessly integrated into the layout of the entire project, while motorists will also benefit from multiple access points and roads, which have been planned to alleviate traffic concerns.
In addition, the Al Jadaf area provides a fitting location for the project due to its strategic location in close proximity to the Dubai International Airport and Dubai Festival City, and highly accessible through the Business Bay and Garhoud bridges.
Abdullah Atatreh, chairman of Bonyan International Investment Group, said: "The number of local and GCC-based investors who have acquired plots within this project is also an indication of the regional market's strong support for high-quality developments. We are looking forward to the completion of the properties in Sama Al Jadaf in the coming years, when we will see the full impact of this project in the real estate landscape of Dubai."
In addition to the Sama Al Jadaf project, the developer has recently launched its mega master development, the Dh3.5 billion Eye of Ajman community development, which is spread over 6.27 million square feet and comprises 109 plots.
At present, the company has developed Dh3 billion worth of residential and commercial developments, including Rose Tower and Lulu Tower, Dubai Gate 1, Sharjah Gate and ABBCO Tower. It is also undertaking regional projects and enhancing its full suite of integrated and research-based services as part of its aims to expand its project portfolio to Dh10 billion in three years.
The success of the project is part of the developer's growth amid the booming real estate sector in Dubai."
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