Memon Investments unveils Dhs250m 'Champions Tower IV' in Dubai Sports City

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This is in line with the leading developer's recently announced plans to invest Dhs2.5bn in various property projects within the booming UAE market in the second half of 2008. In addition, the developer also revealed that it has registered an Escrow account for the project with the Commercial Bank of Dubai, in compliance with RERA and Dubai Land Department regulations in a bid to further drive investor confidence.

Leveraging the success of the first three developments in the Champions Towers series, the 20-storey Champions Tower IV, which has been designed by Eng. Adnan Saffarini Office, will house 228 units comprising of 19 studios, 76 one-bedroom and 133 two-bedroom apartments. The freehold residential tower will incorporate a golf course, garden and canal views, a state-of-the-art surveillance and intercom system, basement parking, covered parking on the ground floor, 24-hour manned security and in-house maintenance, mood lighting, four high-speed elevators and valet parking services. In addition, the tower will also offer luxurious amenities including a majestic marble lobby, a rooftop health club, communal swimming pool, party hall, outdoor terrace, rooftop juice bar, spa, steam, sauna, Jacuzzi, separate fitness gyms for men and women, concierge desk and a health club lounge.

'As the largest tower in the series, we have made sure that Champions Tower IV will incorporate excellent architectural features, facilities, amenities and views, which are all at par with our previously launched projects and incomparable to any other in the market. As a result, it has already attracted an exclusive clientele, including renowned cricket stars Mohammad Yousuf and Misbah-ul-Haq from the Pakistan National Cricket Team. The outstanding attention being generated by the project is our motivation to launch an aggressive marketing campaign as well as overseas promotion, which will focus on offering customised solutions and flexible payment plans for investors,' said Ahmed Shaikhani, Managing Director, Memon Investments.

Dubai Sport City's outstanding embodiment of a state-of-the-art sports-themed community has played a significant role in the success of Memon Investments' previously launched projects under the world-class Champions Towers series, thereby prompting the developer to once again choose it as the high profile location for Champions Tower IV. The 50 million square feet sports-centric community development, which will be home to a number of premier sports arenas, religious, educational and healthcare facilities, upscale restaurants and cafés, and retail outlets, is projected to be completed by the year 2010.

'As one of the leading real estate companies in the UAE, Memon's expanding presence in Dubai Sports City is testimony to the high standard of investment we continue to attract. We congratulate Memon on the success of their developments and hope to see more of their projects within Dubai Sports City in the future,'

said U. Balasubramaniam, CEO, Dubai Sports City.

Memon Investments currently has a portfolio of projects valued at Dhs660m, which includes high profile residential and commercial projects including the Champions Towers I, II,
III and IV in Dubai Sports City and Cambridge Business Centre in Dubai Silicon Oasis. The developer had recently announced plans to launch over ten projects in the second half of 2008, which will include a mix of luxury residential, commercial and mixed-use developments located in major master developments in Dubai, including Jumeirah Village South, Dubai Sports City and MIZIN.