Al Habtoor Group announces expansion plans

Al Habtoor Group has formulated strategic plans to expand all its subsidiaries. The total investment over the next two years would be 2.5 billion AED out of which 1.7 billion AED is already committed to several high-profile projects. One of these is the construction of a luxury resort on Palm Jumeirah, which will comprise a beach resort hotel and luxury residential buildings. Construction would commence by the end of 2007 and completion is expected towards end of 2009. Al Habtoor was one of the first to acquire a plot on the Palm Jumeirah, which is in a prime location on the crescent, facing Burj Al Arab. The resort would be managed under the umbrella of Habtoor Hotels.

Participating in the ever promising Realty property market of Dubai, AL Habtoor Group Real Estate has widened its portfolio by adding two new residential buildings during the current year. The latest acquisition is the strikingly distinguished building in the Emaar development Marina Walk. It is located strategically and directly along the water front and the yachting berths, adjacent to the Dubai Marina Phase I, and shares the popular marina retail area which includes foods courts, shopping stalls, themed restaurants and supermarkets.

The unique tower development of 33 storeys has a strategic angle location whereby most of the residential units face the water front and also offers a breathtaking view of the Arabian Sea. The tower consists of 179 high quality residential units comprising of 1BR, 2BR, 3BR apartments in addition to penthouses and podium villas and are designed and oriented to offer luxurious life styles. The development also includes 5000 sq. ft. of retail space. There is a private way leading to Marina phase I development including this tower whereby residents and visitors will be able to have private access to the tower. Ample Parking area of 215 units would cater to the need of the tenants. Habtoor Real Estate has in addition also acquired a 40 unit residential property in Deira.

Al Habtoor Motors is also expanding by adding two more workshops in Abu Dhabi and Ras Al Khaimah and a showroom in Ras Al Khaimah.

Said Khalaf Al Habtoor: "Al Habtoor Group strategy is to develop continuously, paralleling the continuous growth of Dubai according to HH Sheikh Mohammed's vision. The transparency of the plans of HH to invest huge budgets in the infrastructure of Dubai is a great result to all people - We strongly support the vision of HH Sheikh Mohammed and therefore we are encouraged to invest in more specialized work to prepare Dubai for worldwide future competition."