Dubai International Properties completes a highly successful first year of operations

"To celebrate a year of high success, we got together to thank our team members for their support, dedication and hard work," said Farhan Faraidooni, Chief Executive Officer of Dubai International Properties.

Dubai's global developer of high-profile real estate projects revealed that a day of celebrations was held on November 8th 2005 at Jumeirah Beach Club, where all Dubai International Properties staff joined in to celebrate the milestone in the company's history.

"The studies conducted before launching Dubai International Properties have contributed to the success of the organization as they had indicated tremendous growth opportunities in regional markets. This encouraged us to launch real estate projects in the region which had positive repercussions on the local economy and at the same time enabled Dubai International Properties to break into new markets,"

Faraidooni added.

"Without the efforts of our people our success would not have been possible. This is our way of recognizing their hard work, our way of thanking them and our way of telling them how much we value them," Faraidooni said.

In the past one year, Dubai International Properties has achieved a pinnacle of success few companies across the globe have achieved. It has revealed iconic multi-billion dollar projects one after another in rapid succession, each a classic landmark on its own.

Dubai International Properties is a member of the highly diversified Dubai Holding Group and specializes in investing in major real estate and property projects all over the globe. It develops its own landmark projects as well and has the ability to acquire others or to partner with other firms in developing joint projects. The company is planning to enter new markets with potential for growth.

Sharing Dubai's evolution

Dubai International Properties is committed to sharing Dubai's evolution and real estate achievements with the world. It carries all the modern and ethnic architectural influences that make up Dubai while exploring its property development and investment acumen to enhance and diversify the already impressive portfolio of Dubai Holding.

Achievements

In February, Dubai International Properties had announced it is iconic mixed-use tower development, Dubai Towers - Doha at the cost of AED1 billion.

In March, it revealed that it will develop a huge resort complex at Yiti in Oman that stretches from the beach to the mountains and is the first to be offered for sale worldwide under the new Omani law allowing freehold sales to foreigners. Its cost is estimated at AED3 billion.

In May, the company announced the development of one of the biggest and most ambitious projects in North Africa - 'Amwaj. At a cost of AED7.5 billion, 'Amwaj' will be developed on the banks of the Bouregreg River in the Moroccan capital, Rabat. Characterized with its Moroccan architecture, the city will reflect the Moroccan culture while boosting the latest in modern city development.

In October Dubai International Properties launched its first project in Turkey - Dubai Towers - Istanbul at a cost of AED 2 billion.