Al Burj Real Estate to offer properties investment opportunities in Madinat Al Arab

This was announced at a meeting of the company board of directors held yesterday.

During this meeting Dr. Mohammad Khalfan Bin Kharbash, UAE Minister of State for Finance and Industry and DIB Chairman was also announced as the Chairman of Al Burj Real Estate Limited.

By November 2005 Al Burj will start offering property investment opportunities in Phase I of Madinat Al Arab. These are unique investment opportunities as the properties are located right on the waterfront which is the last remaining natural waterfront in Dubai. The company also plans to offer a mix of offices, residential and leisure properties to complement the overall master plan of Madinat Al Arab

Speaking on the occasion Dr. Kharbash said: "Al Burj Real Estate is an upcoming company with a promising potential to become one of the most successful players in the real estate market and and I am proud to be associated with this organization."

He added " With a committed capital of Dh7 billion and backed by the expertise of our stakeholders, which includes real estate developers, financial institutions and a number of other prominent investors, we plan to provide unique real estate investments opportunities to suit market needs".

With the newly constituted Board of Directors, Al Burj Real Estate will focus on its investment strategy by investing in projects developed by the leading development companies in the UAE as well as the GCC market. It also plans to own and manage a portfolio of real estate that includes residential and commercial properties and provides fully integrated property management solutions for its customers real estate needs.

The company announced last September that it has bought a significant share of the property in Phase I of Madinat Al Arab, the planned urban downtown at the heart of Dubai Waterfront.