Dubai: Indian real estate developer Tricolour has opened its first overseas office in Dubai, and aims to create 3,000 jobs over the next three years, the company said in a statement on Wednesday.
The company has also signed a deal with the private office of Sheikh Ahmed Bin Faisal Al Qassimi for commercial and residential property development in the emirates.
A memorandum of understanding was recently signed in Dubai by Chandan Kumar Jha, Chairman and Managing Director of Tricolour; Ranjan Kumar Jha, Executive Director of Tricolour Group, and Tomasz Zaleski, Chairman of the private office of Sheikh Ahmed Bin Faisal Al Qassimi, and Salwa Abdul Aziz Zein, CEO.
“With our vast property development portfolio in India’s six major cities, we are delighted to partner with Sheikh Ahmed Bin Faisal Al Qassimi’s office to bring more projects and our expertise here in the UAE,” said Jha.
He added that Tricolour’s projects will also create up to 3,000 jobs in the UAE in the next three years. “We are happy to create meaningful projects that will also help people here in the UAE get jobs. In terms of real estate, huge construction projects will be undertaken, not only in Dubai but other parts of the world, like Africa,” he added.
“Real estate development is one of the biggest businesses here in the UAE and we are so happy that we are going to be using the know-how of our new partner to bring a new flavour of work between UAE and India,” Salwa said.
Tricolour will be developing hotels in Dubai and Abu Dhabi, as well as residential developments, commercial spaces and leisure facilities in all emirates.
“We are creating the future and opening opportunities for communities in this country,” said Zaleski.