Dhs19.8bn United Holdings launched

Positioned as a premium investment company with offices in the prestigious Emirates Towers, United Holdings will initially focus its resources on opportunities predominantly in the real estate sector.

"United Holdings is dedicated to delivering premium investment opportunities for its shareholders, beginning here at home," said H.E. Mohammed Ali Al-Hashimi, Chairman of United Holdings. "Following extensive research and planning we are very proud to officially launch United Holdings and we are well positioned to address investment opportunities across a wide range of economic sectors."

United Holdings has plans to invest in a number of prestigious real estate projects in Dubai in prime locations which will include: Sheikh Zayed road, Umm Suqueim, Palm Jumeirah, Downtown Burj Dubai, Palm Jebel Ali, Palm Deira, Dubai Water Front and The World Islands amongst others.

The company also has ambitious plans for real estate developments in Abu Dhabi, the northern Emirates as well as overseas.

Construction has already begun on the Dhs900m Tiara United Office tower on Sheikh Zayed road which is part of the iconic Dhs2.4bn Tiara United Towers joint venture with Zabeel Investments slated for delivery in 2009.

Specific details with regards to other projects will be announced in due course.

United Holdings plans to diversify its investment portfolio through investing in a wide range of assets across economic sectors, which will include: hospitality, financial services, industry and manufacturing and private equity.

"Currently we have allotted a significant amount of our initial investment capital for real estate related opportunities in the UAE, while the remaining capital will be distributed for investments in emerging real estate markets and a diversified array of sectors outside of real estate," said Abbas Kiani, CEO of United Holdings. "Over the coming years United Holdings will become a widely respected and globally recognised investment organization built on the highest standards of quality and value."

United Holdings will actively seek to add value to each and every environment it operates in by diligently choosing investment prospects and growing its arena of operations in tune with investment opportunities.

"In doing so, we will deliver exceptional returns to our shareholders and partners," continued Al-Hashimi. "And by associating with only the best partners and ventures within our target markets, we will develop a rich and diversified investment portfolio which will fuel and accelerate our growth strategy over the medium to long term."