Visiting the OQYANA project at the opening of Arabian Travel Market, the Middle East's premier travel and tourism exhibition, HH Sheikh Mohammed said: "This is really different. I am very impressed with its uniqueness; it is what we are looking for - totally outside the norm."
HH Sheikh Mohammed was briefed on the project by Waleed Al-Humaidhi, Chairman of Kuwait's EFAD Holding, which is developing OQYANA, the world's first fully masterplanned elite island retreat, in conjunction with The Investment Dar.
"His Highness asked for a brief on each segment of the project which we have designed to augment his vision of Dubai," said Al-Humaidhi.
OQYANA is the Australasia segment of 'The World' which is being built four kilometres offshore Dubai's Jumeirah coastline. It was named after the Arabic for Oceanic.
Meanwhile sales of property on the project- the first freehold offering to come out of 'The World' - began at Arabian Travel Market today. Put on the market were a mix of beach homes and Bay View and Sea View residences.
Following ATM, which runs at the Dubai World Trade Centre until May 6th, the OQYANA masterplan model will go on show at the new OQYANA customer relations centre in the Presidential Suite of Dubai's Shangri-La Hotel on Sheikh Zayed Road.
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OQYANA receives Dubai Crown Prince
- United Arab Emirates: Tuesday, May 03 - 2005 at 14:18
- PRESS RELEASE
His Highness General Sheikh Mohammed bin Rashid al Maktoum, Dubai's Crown Prince and UAE Defence Minister, has praised the OQYANA sanctuary of supreme lifestyles, taking shape on Nakheel's 'The World' project, for its uniqueness and vision.
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Notes and media contacts
About The Investment Dar:The Investment Dar is a publicly-quoted company on the Kuwait Stock Exchange and, when founded in 1994, was the first Islamic finance and investment establishment in the GCC specialising in consumer finance in accordance with Islamic rules and Shariah law.
Founding investors include notable shareholding companies, a number of key public and private organisations, government bodies, as well as Kuwaiti and GCC business leaders.
A pioneer in the development of Islamic finance and investment vehicles, The Investment Dar in 2000 was behind the launch of Easy Commerce to finance co-operative suppliers and Manazel projects, specialised finance and real estate product aimed at addressing Kuwait's housing problems. At the same time, The Investment Dar introduced the Al-Ijara investment portfolio and was entrusted with the management of the First Finance Company in Qatar, considered the Gulf's Islamic finance leader.
In 2002, The Investment Dar, which is certified to ISO 9001 quality standards, began to specialise in direct investment, portfolio and fund management and launched the Al-Dar Real Estate Fund.
The Investment Dar has also been accredited by Capital Intelligence, a leading categorisation agency, with an A-4 grade for short-term periods and BB grade for long term. The company operates in full compliance with the rule of the Central Bank of Kuwait and under close and constant contact with the country's financial supervisory authorities and bodies.
About EFAD Holding:
Headquartered in Kuwait, EFAD Holding is a highly diversified investment, development, ownership and management group operating across a range of sectors, including real estate, contracting, general trading, hospitality, engineering, transportation and logistics, I.T. and design.
The Group's geographic footprint spans the Middle East and Europe. The Group owns and manages a group of affiliates all distinguished by their diversification and creativity. All are charged with delivery of quality service and products. Carefully studied finance tools play a significant role in the mitigation of risk and alleviation of returns for investors.
For further information: www.efadholding.com
For further information: Barbara Saunders, MCS/Action, PO Box 20970, Dubai, United Arab Emirates. Tel: +9714 390 2960; fax: +9714 390 8161.
Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, May 03 - 2005 at 14:18 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sat May 12 2007.
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