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Mohammed Ali Al Hashimi, Executive Chairman for Zabeel Investments, said:
"This has been a phenomenal year for us considering it's our first; as we have achieved much more than we initially projected. This can be put down to the right opportunities presenting themselves at the right moment and the speed with which the Zabeel team acted on the opportunities."
Zabeel Investments property portfolio includes the AED 2.1 billion Tiara Residence on the Palm Jumeirah and the AED 700 million TUI Resort properties on the Palm, operated by Iberötel and Robinson Club. The portfolio also comprises the America Hotels & Resorts, the first development announced as part of the Bawadi hospitality and tourism project, with a substantial AED 1.85 billion value, as well as the recently announced AED 1.75 billion Tiara United Towers.
Al Hashimi continued: "In line with His Highness Sheikh Mohammed bin Rashid Al Maktoum's vision for Dubai, it's all about building for a sustainable future. We put a lot into research in guiding our projects; we look to develop in landmark locations; areas that are relevant to our customers, through a strategic mix of residential, commercial, retail and hospitality projects. We are developing structures that are homes and not just a roof over ones head, but we are also creating for lifestyles, places where one can work and relax with the minimum of stress."
"This is just the beginning for Zabeel Investments. Our goal is to have our developments dictate the next phase of property development; not just building homes and offices, but communities and lifestyles."
Zabeel Investments, as a multi-diversified company, is looking to a diversified portfolio of projects; one which would also include a broad range of lifestyle and cultural elements. Zabeel has focussed the purchasing of equity stakes in a number of partner businesses, which will allow the company to tap into a variety of services and levels of expertise for its ever expanding real estate portfolio.
Al Hashimi concluded: "2007 will bring an even greater expansion of our portfolio, with a number of new projects on the horizon, particularly in the international arena. In addition, we will continue to seek equity stakes in established businesses, specifically those with a proven track record. For us, the future is about quality, and not necessarily quantity. Zabeel's developments will stand the test of time."
Posted by Anne-Birte Stensgaard, Senior News Editor
