Memon realty portfolio increases to Dh660m

Dubai: Property developer Memon Investments has boosted its portfolio to Dh660 million following the launch of their fifth and latest project, the Dh250 million Champions Tower IV in Dubai Sports City.

The fourth in the Champions tower series, Champions Tower IV is a 20-storey, freehold residential tower in the 50 million square foot Dubai Sports City.

It comprises 19 studios, 76 one-bedroom apartments and 133 two-bedroom apartments.

The tower will also include a golf course, basement parking and covered parking and in-house maintenance.

Other facilities include a rooftop health club, swimming pool, rooftop juice bar, spa, steam room, gyms and a health club lounge.

"As the largest tower in the series, we have made sure that Champions Tower IV will incorporate excellent architectural features, facilities, amenities and views," said Ahmad Shaikhani, managing director of Memon Investments.

Memon's portfolio is now valued at Dh660 million, including Champions Towers I, II and III and the Cambridge Business Centre.

According to a company official, there are plans to invest between Dh2.5 billion and Dh3.1 billion in 10 residential and mixed-use projects in Dubai Sports City, Jumeirah Village South, Mizin and Downtown Jebel Ali.

The official also said plans to launch towers in Ajman are underway and should be definite by the first quarter of 2009.