Tarek Kandil Interviewed by GULF NEWS - June 2008 - (English)

Define Properties finalises Dh8b Waterfront venture

Construction of the building will begin within seven months

by suzanne fenton
staff Reporter

Dubai The latest contender in Dubai's competitive real estate industry is Difine Properties, which entered the market with 1.3 plots already acquires and their first three projects worth around Dh8 billion.
Define Properties joins the Dubai market with a capital of Dh500 million. The company already has 12 plots in dubai waterfront and one plot in Business Bay. Define Properties' assets are worth about Dh1.7 billion.
President and chief executive officer Tarek Kandil said the company's Dh600 million project in Business Bay is underway.
"We sold our Nikki Lauda twin towers during our set-up phase and started enabling and foundation works during the same month. Our planned completion is the third quarter of 2010." Kandil said.
Although Define Properties are the developers of the nikki lauda twin towers, German investment company ACI real Real estate later bought the Project.

Road ahead
Kandil said the Define properties is finalising three projects in Water front with a combined value of Dh8 billion.
The launch and construction of these will begin within seven months, he said.
Walid abdul latif, director of sales anda marketing at Define Propertws, said.

Towering high
Define properties' Nikki Lauda twin towers as they will look upon completion. The project was bought over by Geran investment company ACI Real Estate.
"Of the three projects in Waterfront, one is redential and the other two will be mixed-use."
Kandil said the company will focus on Dubai and in the Future will expand to the rest of the UAE and the wider region.
"It depends on the demand and supply, Dubai's population has been booming and the industry has not been affected by the global property crisis. The (Dubai) market will be strong untill the demand has been filled, And according to figures, it willtake awhile to fulfil the demand," he said.
The first three projects are valued at Dh8 billion untill December this year. Next year, this figure "may be the same of possibly double," according to Kandil.

Tarek Kandil Interviewed by EMIRATES BUSINESS 247 - June 2008 - (English)

Define plans Waterfront projects

DUBAI

Define Properties, a Dubai based real estate developer, will launch three projects worth Dh8 billion in Nakheel's Waterfront development this year, a top company executed said.
"We will soon launch one residential and two mixeduse projects in Waterfront. We have finalised schematic design for these projects and escrow accounts have been opened with HSBC and Dubai Islamic Bank," define President and chief Executive Officer Tarek Kandil told Emirates Business.
The cmpany, which has been promoted by four UAE based business, has an initial paid-up capital of Dh500 million and has acquired 12 plots in Waterfront and one in Business Bay.
According to Kandil, Define has already initiated work on its Niki Lauda twin tower in Business Bay. "We sold our Niki Lauda twin towers during our set-up phase and started enabling and foundation works during the same month. Our planned completion is during the third quarter of 2010 and we are well on shedule," he added.
Niki Lauda twin tower was branded. marketed and sold by ACI real Estate, an affiliate of Germany-based Alternative Capital Investments, which is developing Michael Schumacher Business Avenue and Boris Becker Business Tower.
The company is made up of nine specialised departments, which include developments, finance, construction, sale and marketing, legal affairs, administration and goverment relations, facility management, human resoursec and information technology.
"We have assembled a team of highly specialised professionals who will market to fulfill our mission and objectives and to redefine the property cycle from beginning to end,"
Kandil said ther is stil a lot of opportunity in the Dubai market. define plans to expand its reach to other emirates and nieghbourin countries, Kandil said. The company will also enter joint ventures and announce three more projects soon. (Parag Deulgaonkar)

Tarek Kandil Interviewed by AL KHALEEJ - June 2008 - (Arabic)

Tarek Kandil Interviewed by AL ITTIHAD - June 2008 - (Arabic)

Tarek Kandil Interviewed by AL BAYAN - June 2008 - (Arabic)

Tarek Kandil Interviewed by AKHBAR AL ARAB - June 2008 - (Arabic)

Tarek Kandil Interviewed by PROPERTY WORLD ME - June 2008 - (English)

Defining moment

During the right thing the right way is their motto, and the newly launched Dfine Properties is confident it will be the key to their success.

Initiated with a paid up capital of AED 500 million, the company's assets are now valued at AED 1.7 billion, which include 13 plots in Dubai - 12 on the Waterfront and one in Business Bay.

At the launch at the the Burj Al Arab, President and CEO Tarek Kandil said that the company's first project, Niki Lauda, is already under construction -- and as been sold off plan.

"We sold our Niki Lauda twin towers During Our setup phase and started enabling and foundation works during the same month. Our planned completion date is during the third quarter of 2010 and we are well on schedule." he said.

Define's shareholder are four UAE-based individuals with vast experience, and he says the intention is to branch out across the areas of project managment, real estate and mortages and financing for end users.

Asked if his company would be environmentally friendly -- Mr Kandil replied simply, "That is part of doing things the right way."