Memon Investments launches AED 145 million Champions Tower III in Dubai Sports City

The launch of the largest residential tower of the Champions Towers series was made at a press conference today (June 25, 2007) held at the Grand Hyatt Hotel, Dubai. Targeted for completion in early 2009, Champions Tower III is part of the company's AED 1 billion-investment plan and has been launched in a bid to leverage the tremendous success of Champions Towers I and II, which were both completely sold out within weeks of their launch.

Champions Tower III fuses high-tech functionality and contemporary architectural design as envisioned by the prestigious award-winning architectural and engineering firm, Eng. Adnan Saffarini Office and offers a choice of 256 elegant units comprising of studios, one-bedroom and two-bedroom apartments. The 16-storey residential tower is designed to promote a healthy lifestyle and offers a state-of-the-art health club, communal swimming pool, juice bar, steam, sauna and separate fitness gyms for men and women located on the rooftop and fully-serviced by a well-trained team. Occupying an area of 250,000 sq. ft., the tower boasts of 5-star hotel features and amenities such as a spacious fine marble lobby, 3 high-speed elevators, basement parking, covered parking on the ground floor, concierge and valet services, 24-hour manned security and an in-house maintenance team to ensure the comfort and security of occupants.

Speaking at the press conference, Ahmed Shaikhani, Managing Director, Memon Investments, said:

"Champions Towers I and II generated immense interest from investors and end-users alike, and the continuing demand spurred us to build a third tower in Dubai Sports City. It is fitting to make our latest offering in the Champions Towers series the biggest yet equally luxurious and functional as our previous projects, which are aimed at pleasing the discerning tastes of a property market distinguished for architectural design and quality as well as ambitious community developments."

With a premium location, Champions Tower III is a 5-minute walk from the entrance of the gated community and offers residents stunning views of the canal and the landscaped scenery. It is a few meters from world-class stadiums and academies, educational, religious and healthcare facilities, posh restaurants and cafés as well as a sports-themed shopping mall. The tower is a 2-minute walk from the 18-hole Ernie Els golf course and is in close proximity to the Manchester United Soccer Schools, ICC Global Cricket Academy, Butch Harmon School of Golf, David Lloyd Tennis Academy, World Hockey Academy and Bradenton Academy School.

"The architectural design of Champions Tower III follows contemporary concepts and combines aesthetic value and functionality, which should be integral elements in today's residential developments. The design of each unit provides residents magnificent views from their private balconies as well as convenient access to the tower's amenities. Keen attention to detail and the finest craftsmanship add up to making this new tower a luxurious and exclusive residential option at low maintenance costs for the occupants. We are confident that our joint efforts will be on par with the prestige set by Champions Towers I and II," said Eng. Ahmed Saffarini, Chairman, Eng. Adnan Saffarini Office.

Memon Investments recently launched its first commercial tower, the AED 80 million Cambridge Business Centre in Dubai Silicon Oasis, the region's premier integrated innovations hub for high-tech industries. The developer is poised to further its role in the regional property market with a diverse range of projects including residential, commercial, mixed-use, retail and community development in prime locations in the UAE and GCC and is expected to roll out more projects in the near future.