New Developer Enters Market with Sales of full "Landmark" Project
Define Properties launched with total asset of AED 1.7 Billion
Dubai UAE 03, June 2008: Newly launched property development company, Define Properties, has entered the market with a flying start after selling their entire first project Niki Lauda, off plan, before either company or building launched.
During its launch press conference held yesterday at Burj Al Arab, Define Properties made its presence known with the announcement of early achievements and its future plans and goals.
Initiated with a paid up capital of AED 500 million, after acquiring different plots of land in Dubai, Define Properties' assets today are valued at AED 1.7 Billion which include 12 plots in the Waterfront and 1 plot in Business Bay.
President and CEO Tarek Kandil said that the company's first project Niki Lauda is already under construction.
"We have decided through our business plan to create a success story and show how we do the right things the right way! We sold our Niki Lauda twin towers during our setup phase and started enabling and foundation works during the same month. Our planned completion is during the 3 rd quarter of 2010 and we are well on schedule." Kandil said.
"We provide distinctive partnership opportunities to companies, brands, investment houses and individuals who are looking for profitable capital investments and have engaged in both joint ventures and long term partnership opportunities. With the systems we have in place, we are able to ensure our partners are offered a plan that provides higher returns on their investments and are able to remain fully secured," Kandil added.
The Company structure has been carefully designed to ensure that all aspects of the property business are covered.
"We have assembled a team of highly specialized professionals that were individually selected based on their vision and experience in the market to fulfill our mission and objectives and to redefine the property cycle from A to Z," said Kandil.
The company is made up of nine specialized departments which include Development, Finance, Construction, Sales and Marketing, Legal Affairs, Administration & Government Relations, Facility Management, Human Resources and Information Technology, each including a full team capable of carrying out its activities to the highest standards.
"We have already finalized schematic designs for three projects in the Waterfront and escrow accounts have already been opened with HSBC and Dubai Islamic Bank," said Kandil.
Define Properties' future plans will provide financial solutions and attract joint ventures as well as long term partners in future projects.
"Far from its competitors, Define Properties' plans will cover all aspects of the property business to secure the supply chain and insure delivering what we promised; our business covers construction, project management and real estate. We are currently evaluating the possibility of engaging financial institutions to provide mortgage funds for our end users and to expand into other countries in the region by engaging both joint ventures and long term partnerships," Kandil said.
Dubai UAE 03, June 2008: Newly launched property development company, Define Properties, has entered the market with a flying start after selling their entire first project Niki Lauda, off plan, before either company or building launched.
During its launch press conference held yesterday at Burj Al Arab, Define Properties made its presence known with the announcement of early achievements and its future plans and goals.
Initiated with a paid up capital of AED 500 million, after acquiring different plots of land in Dubai, Define Properties' assets today are valued at AED 1.7 Billion which include 12 plots in the Waterfront and 1 plot in Business Bay.
President and CEO Tarek Kandil said that the company's first project Niki Lauda is already under construction.
"We have decided through our business plan to create a success story and show how we do the right things the right way! We sold our Niki Lauda twin towers during our setup phase and started enabling and foundation works during the same month. Our planned completion is during the 3 rd quarter of 2010 and we are well on schedule." Kandil said.
"We provide distinctive partnership opportunities to companies, brands, investment houses and individuals who are looking for profitable capital investments and have engaged in both joint ventures and long term partnership opportunities. With the systems we have in place, we are able to ensure our partners are offered a plan that provides higher returns on their investments and are able to remain fully secured," Kandil added.
The Company structure has been carefully designed to ensure that all aspects of the property business are covered.
"We have assembled a team of highly specialized professionals that were individually selected based on their vision and experience in the market to fulfill our mission and objectives and to redefine the property cycle from A to Z," said Kandil.
The company is made up of nine specialized departments which include Development, Finance, Construction, Sales and Marketing, Legal Affairs, Administration & Government Relations, Facility Management, Human Resources and Information Technology, each including a full team capable of carrying out its activities to the highest standards.
"We have already finalized schematic designs for three projects in the Waterfront and escrow accounts have already been opened with HSBC and Dubai Islamic Bank," said Kandil.
Define Properties' future plans will provide financial solutions and attract joint ventures as well as long term partners in future projects.
"Far from its competitors, Define Properties' plans will cover all aspects of the property business to secure the supply chain and insure delivering what we promised; our business covers construction, project management and real estate. We are currently evaluating the possibility of engaging financial institutions to provide mortgage funds for our end users and to expand into other countries in the region by engaging both joint ventures and long term partnerships," Kandil said.
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