The UAE has been catching the attention of both Russian tourists and investors alike, and it seems that ABG is now making its move to capitalize on that trend. His Excellency Mohammed Jo'an Al Badie, President of ABG, comments that the decision to purchase a property, whether for personal or investment purposes, is a rather considerable one to make.
"Russia is one of our key markets, and in the last few years, Extravaganza's visitors in Moscow have expressed increased interest in the investment projects taking place in the Emirates. Our goal now is to directly talk to end users and investors about our Shams Abu Dhabi project in Al Reem Island, which will ultimately benefit and sustain the long term economic development of the region."
Investing in real estate in Abu Dhabi is now considered a safe opportunity that reaps excellent return on investments. With low interest financing available, diverse mix of developments to choose from, international attractions (the Guggenheim, the Louvre, Formula 1 etc.), and a booming economy with the emirate's GDP at over US$ 41 billion, all of the factors point towards an increased demand for properties.
"The real estate spotlight in the Gulf has now turned onto Abu Dhabi and the city is proving extremely attractive to high-end foreign investors," added Tarek Nizameddin, Managing Director at Cornerstone. "We have seen an upward trend in the number of Russian investors who have approached us and we will be present at Extravaganza to capitalise on this interest."
The property market in the UAE is growing with a mix of local, regional and international investors: individuals, funds, companies and real estate investment trusts. ABG has entered the market, and is contributing to the exceptionally aggressive market that is approaching record prices.
The $190m project is currently in the pre-launch phase and exclusive sales agent, Cornerstone, has already sold 50% of the 371 units. 60% of the sold units have been purchased by end users and the remaining 40% have been purchased by investors.
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Al Badie Group eyes Russia
- United Arab Emirates: Saturday, October 27 - 2007 at 11:03
- PRESS RELEASE
Al Badie Group (ABG) Property Development has confirmed plans to attract a broader European customer base, and has confirmed their sponsorship at Russia's leading luxury lifestyle exhibition- Extravaganza Moscow - taking place October 25-27.
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About the Beach TowersSome of the apartments' exciting features include:
• Top-of-the-line management services
• Luxurious entrance and lobby
• 24 hour security
• State of the art 'Smart Home' facilities- integrated cameras, voice command recognition, messaging and real-time services
• World class gymnasium/ fitness club
• Elegant café on 4th floor
• Swimming pools
• Maintenance services
• Designer finishing
• Spacious balconies in all apartments
• 90% of apartments offer beautiful sea views
• Fully equipped kitchen
• Direct access to beach
• Secure underground parking
For further information, please contact Cornerstone at +971 2 6657055.
For media enquires, please contact:
Noura Sarraj
Account Manager
Promoseven Weber Shandwick
Tel: +9712 4494405
Fax: +9712 4494833
Mobile: +971506720887
About Al Badie Group (ABG)
Based in the emirate of Abu Dhabi, Al Badie Group (ABG) was founded in 1967 under the chairmanship of Mohamed Joan Al Badie.
Since its inception, ABG has joined with international partners to support the growth of the UAE's infrastructure as well as the Petroleum, Tourism, Travel and Commercial sectors. In the early nineties, ABG expanded their business to encompass Industry, Privatisation and Defence Offset which promote their ongoing development programme.
Today, Al Badie Group consists of 10 subsidiaries, all of which encompass their vision, heritage and commitment to the future and hold the key to continuous growth, expansion and success.
About Cornerstone
Cornerstone provides high-level expertise in real estate and allied services. The expert team has a thorough understanding of the dynamics of the UAE property market and provides clients with the latest information, trends and insights to ensure that they achieve their business objectives. Their wide portfolio of properties caters to the needs, aspirations and dreams of most property buyers, sellers and developers in the UAE. Cornerstone aims to provide their customers with an international network of buyers and sellers through their extensive database; the company is constantly networking with clients and agencies worldwide to sell properties at an exponential turnaround rate.
Cornerstone specialises in:
Sales
Leasing
Property & Facility Management
investments
Consultancy Advisory
Project Sales Management
For more information, please visit www.cornerstone-uae.com
Posted by Anne-Birte Stensgaard, Senior News EditorSaturday, October 27 - 2007 at 11:03 UAE local time (GMT+4)
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