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Asteco leases last 10 retail units at Souk Madinat Jumeirah
- United Arab Emirates: Tuesday, August 24 - 2004 at 13:34
- PRESS RELEASE
Asteco Property Management have announced that the final ten retail units at the Souk Madinat Jumeirah have been leased to Marina Gulf Trading Co. for their Marina Home Interiors concept.
"All our outlets at Souk Madinat Jumeirah promise to add to the Arabian theme by offering an atmosphere of traditionally painted walls, stone, ceramic and parquet floors and products such as rugs, carpets, antiques, trinkets as well as 'old-world' style furniture and interior decorations", says Khurshid Vakil, Executive Director and co-owner of Marina Gulf.
"It is our intention to offer all our customers a unique shopping experience and hope to create the feeling that they have been taken back to the times of the lucrative Gulf-Asian trading routes with added finesse and functionality. As part of the Souk Madinat Jumeirah project, this can only enhance that look and feel", added Mr. Vakil.
Asteco, exclusive property managers for the Madinat Jumeirah project, reported that there was such strong demand for the retail units at the Souk that submissions were soon oversubscribed.
"While interest from retailers was strong, we were keen to get the right balance of retail outlets with the overall theme of the souk being of primary concern to Asteco management", said Jerry Oates, Commercial Director at Asteco.
"The Souk Madinat Jumeirah is a truly unique project and a perfect venue for shoppers who enjoy idyllic and relaxed surroundings, breathtaking views and eating and leisure facilities. As property managers for Madinat Jumeirah we are delighted that Marina Gulf has chosen to partner this project and are confident that their outlets will be reflect the true essence and feel of the traditional Arabian souk", said Mr. Oates.
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AstecoThe UAE's largest property management company, Asteco, was formed in Dubai in 1985, with Sultan Bin Sulayem as its Chairman and Elaine Jones as Managing Partner, both of whom are International Property Managers from the International Real Estate Institute (USA).
Over the years, Asteco has become synonymous with quality real estate development, through their involvement in many of the projects that have defined the landscape and physical infrastructure of the UAE. Today Asteco is renowned throughout the region for its outstanding professionalism, service and an essential combination of local and international expertise.
Asteco is therefore the undisputed expert used by many of the region's top property owners and businesses to fulfil their property requirements through the use of the latest on-line technologies to ensure that owners and tenants alike can access the information they want whenever they want it.
The sales division of Asteco plays a key role in the implementation and execution of business strategies and developments, joint marketing with strategic partners and clients as well as identifying potential investors in the Middle East, Far East and Europe. They also provide professional financial advice, especially on the structure of prices on upcoming real estate projects and counselling of individual and institutional investors, whilst continuing to focus on client needs and long-term relationship building.
Asteco's outstanding growth and diversification over the last two decades has come about through a reputation for excellent customer service and local industry knowledge and experience.
To summarise, Asteco has taken a leading role in the Dubai & Abu Dhabi property scenes, with complete agency services for both leasing and sales, development advice, building management, valuations, and feasibility studies for residential, commercial and retail developments.
Issued by octOpus on behalf of ASTECO Property Management. For further information, please call Shereen Dury on 04 2868275 or 050 7690087
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