Business | Property

Khuyool acquires land in Dubai World Central

Khuyool Investments, a leading property developer and investment specialist, announced that it has acquired prime plots of land worth Dh200 million in Dubai World Central, the 140-square kilometre urban land development being constructed around the world's largest airport.

  • Staff Report
  • Published: 00:17 April 23, 2008
  • Gulf News

Dubai: Khuyool Investments, a leading property developer and investment specialist, announced that it has acquired prime plots of land worth Dh200 million in Dubai World Central, the 140-square kilometre urban land development being constructed around the world's largest airport.

In line with its aim to launch mixed-use projects in Dubai with a total value of Dh8 billion by the end of 2009 and expand in various verticals, including construction materials and machineries, the developer has recently initiated talks with major construction companies in China to negotiate future joint ventures.

High growth

"In a little over a year, we have seen tremendous growth in our operations, which has gone a long way since the launch of our first project," said Fahad Ali Mousa, chairman of Khuyool Investments.

"At present, we have earmarked 35 per cent or Dh3 billion of our planned investments in Dubai, including our recent procurement of prime land within Dubai World Central."

Khuyool Investments has previously launched the Dh650 million Abjar Tower in Jumeirah Village South, which was the first of 13 projects that comprise the initial batch of developments under the company's extensive investment plans in Dubai.

The remaining 12 projects include three high-rise towers and six mid-rise buildings in Jumeirah Village South, and three projects in Downtown Jebel Ali. With the construction of the Abjar Tower due to commence shortly, the developer has further revealed plans to launch two towers with a collective value of Dh1 billion very soon.

"We are planning to invest over Dh20 billion in the real estate market in India, Pakistan, UK, Syria and Jordan over the next five years," said Kussay Al Shaikh, CEO of Khuyool Investments.

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