Al Benaa Real Estate announces joint venture agreement with Far East Organization

The new company, called Far East Property Services-UAE, will be based in Abu Dhabi.

The joint venture will enable Al Benaa to benefit from the international experience of the Far East organization which has ample achievements in the property and facility management sector to meet the needs and requirements of Abu Dhabi's real estate market on an international standard.

The ceremony was attended by his Excellency Hamad Saif Al Mansouri-Chairman of Al Benaa & H.H Sheikh Mubarak Bin Ham Al Ameri - Vice Chairman.

The Chairman has confirmed Al Benaa commitment to the vision of H.H Sheikh Khalifa Bin Zayed Al Nahyan, the President of UAE, and his 30-year plan for the renewal of Abu Dhabi's urban areas.

This involves the establishment of new towns and neighbourhoods and an emphasis on the environment and social aspects of development.

Al Benaa's social concern extends to the elderly and handicapped, so Far East Property Services-UAE will be contributing to community-focused developments as well as commercial and residential properties.

Far East Property Services-UAE is a major development on Abu Dhabi's real estate scene.

It leverages Al Benaa's highly developed local expertise and business relationships, with FEO's proven track record along the industry value chain.

Far East Property Services-UAE complement's Al Benaa's existing businesses, and contributes to the company's mission.

Far East Property Services-UAE will initially target new management projects in Abu Dhabi. In the longer term, it will act as Al Benaa's management arm.

An important area of focus for the new firm will be resort and hospitality developments, where the firm will provide end-to-end management solutions.

Al Benaa's CEO, Mrs. Noura Jasem Al Nowais comments:

"Al Benaa Real Estate is really just at the beginning of what we hope will be a highly successful growth period. While we are justly proud of what we have accomplished in a short time, we do not forget that we owe our achievements, in large measure, to the conditions here in Abu Dhabi and the UAE created by the government and our leaders. We are grateful for this, and mindful of our role as a corporate citizen. Therefore, as we do with all our projects, we will ensure that Far East Property Services-UAE meets the needs of the UAE market and plays a leading role in providing for the nation's residents."