New World Real Estate notches up AED1.1 billion in sales for 2006

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NWRE walked away with the top honours at Tanmiyat's recently concluded annual ceremony celebrating the success and achievements of its top performing sales agents.

The Dubai-based realtor's area of operation covers everything from individual residential villas, apartments and commercial property from studio apartments to entire floors and buildings. They sold 75 villas on the golf course and 500 apartment units in the Living Legends. Tanmiyat Group is developing the AED 14 billion (US$3.8-billion) Legends Dubailand project in association with Bahrain-based Gulf Finance House (GFH). Besides the Living Legends development at Dubailand, Tanmiyat is also developing the Commercial Heights in Dubai's Business Bay.

Speaking on behalf of NWRE, President Mr. Somendra Khosla said: 'With our extensive network of select brokers, unparalleled service and committed team members, we have achieved this sales figure for the year 2006. We are optimistic we will be able to exceed this figure many times over for the year 2007.'

Recognizing the remarkable success of the realtor, Tanmiyat honoured the team that was responsible for this great accomplishment and gave the company the 'Real Estate Agent of the Year' award. The award was presented by HH Sheikh Abdulla A. Aziz Al-Majed Chairman of Tanmiyat at a gala ceremony organized to celebrate the success and achievements of the sales agents at the Al Jawhara Ballroom in Mina Al Salaam, and was received by Mr. Khosla on behalf of NWRE.

Accepting the award Mr. Khosla remarked: 'New World is renowned for extraordinary and unparalleled customer service. Our extensive network of agents provides a range of services including offering an accurate and comprehensive property evaluation, keeping the seller informed of current market conditions and buyers' activity, negotiating on the seller's behalf to reach a favourable agreement for both parties and monitoring and advising the seller of the transaction progress,' Mr. Khosla added.

During 2006 Tanmiyat in cooperation with a number of international sales teams, consolidated its marketing strategy and achieved a high level of success. The past 12 months saw the firm sell a record number of units to some of its most high profile projects, including property inside the Living Legends development based in Dubailand.

Tanmiyat last year won a US$2 billion infrastructure contract for Legends in Dubailand, and became a major stakeholder along with the primary project investor, Bahrain-based Gulf Finance House (GFH). Recently, the company received an approval from Dubai Municipality for the scheme's master plan designs, enabling construction work to begin on the 24.7-million square feet leisure and entertainment project - The Legends Theme Park.

The Legends Theme Park resort represents a unique collection of world-standard Theme Parks with corresponding theme hotels, 500 individual first class villas, residential apartments, business and commercial parks as well as a variety of leisure facilities.

Legends Dubailand, the first major theme park in the region, is expected to attract 20,000 visitors daily at peak operational capacity and a further 35,000 people per day in the hotel district. The developers aim to open the Legends of Arabia theme park and the Living Legends freehold residential and hotel area in 2008, with remaining sections scheduled for completion by 2013.