AMS to offer sale of projects worth over Dhs1bn at Cityscape Abu Dhabi

During the exhibition - to be held from May 13 to 15 at the Abu Dhabi National Exhibition entre (ADNEC) - AMS will showcase in excess of 20 mixed-use projects, highlighted by the launch of residential sales at Bawabat Al Sharq in Bani Yas, Abu Dhabi.

In another first AMS will also be launching an 'Expression of Interest' campaign for Towers 4 & 5 at the Etihad Towers project on the Abu Dhabi Corniche.

The company will also announce the commencement of leasing on the 46,000 square meter GLA (Gross Leasable Area) Downtown Al-Areen - a mixed-use property development in the Kingdom of Bahrain.

The three-day exhibition is a unique networking event focusing on all aspects of the property and development cycle and attracts top regional and international investors, property developers, leading architects and designers.

The Dhs2.2bn Bawabat Al Sharq project, available for sale to UAE nationals on a freehold basis and to GCC nationals on a 100-year leasehold basis, encompasses modern residential, retail and community facilities, including one, two, three and four bedroom apartments as well as three, four and five (detached and attached) villas. The mixed-use development, spread across 108 hectares of land, comprises a vast array of world-class amenities, a FIFA-standard football stadium, a first-of-its-kind shopping centre and the best of retail and entertainment venues.

In his comments on the high-profile participation and launch of sales & leasing at Cityscape Abu Dhabi, H.E. Nasser Mohammed Al Nowais, Chairman of AMS, said: 'Amidst the real estate and property boom in the Middle East, AMS is proud to be involved with such unique projects at Cityscape Abu Dhabi, one of the prestigious events in the global property calendar.

We are showcasing projects worth over Dhs1bn, which in itself is indicative of the importance of the event. AMS, which has carved a niche with world-class consultancy, sales and leasing services over the last nine years, is moving ahead with the confidence of achieving substantial success and establishing itself as a quality leader across the GCC and Levant.'

The company, which commenced operations with four employees in 1999, today boasts of an employee-strength of 75 as on date. This figure will increase to 100 by the end of this year and double be end-2009. AMS' turnover has witnessed an impressive growth of 25 to 30% year-on-year, which proves its expertise in the entire real estate consultancy, sales and leasing value chain.

H.E. Al Nowais added: 'We stress on providing quality services to our clients and tenants alike. We are thankful to all the property owners and developers who have put their trust in our expertise and professionalism.'

The launch of the 'Expression of Interest' campaign at Etihad Towers will be unique.

For the first time in Abu Dhabi the public will be invited to state their interest for the projects fourth and fifth residential tower, whether it be made available for sale or for lease. Etihad Towers encompasses five towers, is strategically located directly opposite the gate of the Emirates Palace Hotel and will feature stunning views in all directions.

The sales of the Downtown Al-Areen development would be done through Gulf Management & Services (GMS), AMS' affiliate in the Kingdom of Bahrain. The project includes residential and serviced apartments, offices, hotels and outdoor shops.

Gulf Holding Company is the developers of the project, anticipated to open over five phases between October 2009 and January 2010.

As per the terms of an exclusive contract awarded by Gulf Holding Company, GMS will handle the consultancy, sales, leasing and management services for the development, spread across a massive 600,000 square metres.

AMS is also under assignment to handle consultancy, leasing and management for various projects in the region. AMS and its regional affiliates in the GCC-Levant region -- AMS-Dubai, Gulf Management & Services in Bahrain, Beirut Real Estate Management & Services s.a.l. in Lebanon and Amman Real Estate & Management Services in Jordan manage 17 projects, covering a combined Gross Leasable and / or Sellable Area (GLA / GSA) of over 5 million square metres.

Among AMS' clients are leading property owners and developers in the region including Dubai Properties, Abu Dhabi Trade Centre, Manazel Real Estate, Bani Yas Investment and Development Company, Jumeirah Beach Residence, Sultan Al Dhaheri Group, Solidere, Abdali Investment & Development PSC and Gulf Holding Company.

AMS' first client was the Abu Dhabi Trade Centre which also hosts the Abu Dhabi Mall. Today, the company and its affiliates, through strategic alliances with corporate partners, have grown rapidly to become leading regional players and manage projects in the UAE, Bahrain, Jordan and Lebanon. AMS has also embarked on an aggressive regional expansion strategy.

Originally focused on retail commercial projects such as the management of shopping malls, AMS has in recent years expanded its services to meet the market demand for similar services for residential and commercial properties. AMS and its affiliates are targeting revenues of Dhs30m in 2008 generated by their Consultancy, Sales & Leasing and Management Services.