Al Madar Property Investments achieves robust sales performance for Scala and Siraj Towers

Al Madar's initial offerings in the UAE whose excellent sales performance was greatly influenced by the rapid growth of Dubai's property sector.

Scala Tower, an 18-floor residential complex comprising 182 apartments located in Dubai's Business Bay, has been completely sold out, while Siraj Tower, a 30-storey residential facility located at Arjan, the master planned development within Dubailand, has also been 50 per cent sold.

"The Scala and Siraj Towers have achieved enormous sales success that exceeded our expectations. We believe this is a result of our commitment to deliver properties of the highest quality, which has been greatly appreciated by our clients, particularly investors interested in Dubai's burgeoning property market. Dubai's growing reputation as an attractive investment destination has been critical to Al Madar's success," said Eng'r Haider Mashhadi Managing Director, Al Madar Group.

"The momentum generated by Al Madar's initial offerings in the UAE has provided a significant boost to our expansion initiatives for 2008 and we are confident of gaining more ground as we unveil a whole new range of world-class projects this year to satisfy the continuing surge in demand for new properties," added Eng'r Haider Mashhadi.

Al Madar has lined up a range of exciting projects for 2008, which include the Bellagio, an office tower that will rise in Liwan, Dubai; and the Coppet, a commercial facility being developed also in Arjan. The company has also purchased various premium-quality properties across key locations in Dubai, Doha and across the GCC.

As part of its intensified expansion program for 2008, Al Madar has also began construction of two office towers and a hotel in Doha, which will all be brought to the market in 2008. The real estate company has also purchased a new land in Lusail, a comprehensive integrated development in Qatar where Al Madar will build a 15-storey building that will likewise be open for sales in 2008.

"Al Madar creates properties that offer great value to investors and property buyers in terms of strategic location, amenities, comfort and long-term sustainability. This visionary approach to real estate development will be vital as we aim to expand our presence in the UAE's property market," said Eng'r Haider Mashhadi.

Al Madar Group was founded in 1992 in Qatar as a company specialised in the design and construction of civil and industrial projects as well as infrastructure and marine development works. The Group has since grown to become one of the premier business houses in the Gulf and today has a presence in several business and industrial sectors, including real estate, contracting, engineering, manufacturing and trading.