Business | Property

Ishraqah to invest billions in real estate all over the world

Ishraqah, a new real estate development company recently launched in the UAE, is set to invest Dh6 billion ($1.6 billion) in the coming two years in real estate projects around the world.

  • Staff Report
  • Published: 00:00 November 15, 2006
  • Gulf News

Dubai: Ishraqah, a new real estate development company recently launched in the UAE, is set to invest Dh6 billion ($1.6 billion) in the coming two years in real estate projects around the world.

Ishraqah plans to create distinctive developments in several markets such as Morocco, India, Pakistan and Egypt focusing on high standards and expectations of buyers in both residential and commercial communities.

Chairman of Ishraqah, Shaikh Bader Al Zahrani, said in a statement: "Ishraqah is focusing further on going the extra mile of thoroughly studying the market gaps prior to starting any of its projects, to meet its buyers' needs and go beyond their expectations. We will take responsibility for every aspect of a project's development to fulfill the buyers' requirements. We will make sure we avoid the inadequacies and problems residents complain about in new communities."

A member of the board of directors, Shaikh Sultan Khaled Bin Mahfouz added: "In today's competitive real estate market, the successful will be those who can demonstrate a track record of reliability and creativity, which gives them a competitive edge.

With this in mind, our objective is to follow international real estate standards to provide distinctive projects in all the markets and to deliver what we promise - and what the buyers expect."

Ishraqah has acquired an Dh1.48 billion plot of land from Limitless, a real estate development company affiliate of Dubai World Holding, on which they will launch a residential project in Jumeirah Village, Dubai at the end of this year.

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