Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

UAE - Arabtec launches development arm  Join our daily free Newsletter

MENAFN - Khaleej Times - 24/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Arabtec Holding has launched a property development company, and the creation of this real estate arm gives the company exposure to a higher-margin development segment of the industry.

The new company will carefully assess the opportunities that arise from Arabtec's strong standing in the sector.

Arabtec Real Estate Development Company will focus on developing lifestyle communities, initially in Abu Dhabi and Dubai, through strategic joint ventures with leading real estate developers and investors in the UAE with plans to expand to other GCC countries and the wider Mena markets.

Arabtec Real Estate will focus on the significant opportunities available as a developer in the affordable housing segment. There is an estimated shortage of over 3.6 million affordable units in key markets in the Mena region, and Arabtec Real Estate plans to rapidly expand in this field, in particular, in key high potential markets, including the UAE, Saudi Arabia, Egypt, Algeria and Morocco.

Arabtec Real Estate is already evaluating a number of new projects which will be announced in due course.

Hasan Abdullah Ismaik, managing director and chief executive officer of Arabtec Holding, said: "The new development arm will build on Arabtec's long-standing track record of delivering high quality real estate developments for more than 20 years."

The launch of Arabtec Real Estate marks yet another milestone in the company's growth story, he said. "With the real estate industry now showing strong signs of recovery, expanding into the development market presents itself as an attractive proposition. We see high potential in the UAE development market."

Ismaik said that the UAE has become a global destination attracting people from all parts of the world to develop their careers and enjoy its superb cosmopolitan lifestyle.

"We will also leverage our strong presence across the region to establish Arabtec as a leader in both construction and real estate development," Ismaik said.

 


Khaleej Times




  MENA News Headlines
 Aug 28 2015 - UAE's DP World profits logs 22 percent growth in H1MENAFN
(MENAFN) Global marine terminal operator DP World declared a surge of 22 percent in its net profit in the first six months, recording USD405 million compared to USD322 million in 2014, plus total ...

 Aug 28 2015 - Oman's fiscal deficit to expand at 12 percent of GDPMENAFN
(MENAFN) Oman's very high economic dependence on gas sector is going to add pressure to the public finance in 2015-16, although it has an ongoing solid economic growth.Meanwhile, the country's fiscal ...

 Aug 28 2015 - Saudi's foreign reserves shrink down 0.5 percent in JulyMENAFN
(MENAFN) The world's largest oil exporter has begun issuing domestic debt aiming at covering part of a budget deficit cause by low oil prices, and the result was that the speed of deterioration in ...

 Aug 28 2015 - UAE cuts September petrol prices as global oil fallsGulf Times
(MENAFN - Gulf Times) The UAE cut petrol and diesel prices by between 8% and 9% for September, the second month during which the Middle Eastern country, Opec's fifth-largest oil producer, removed ...

 Aug 28 2015 - Algeria targets hidden $40bn amid ignored oil-price pleasGulf Times
(MENAFN - Gulf Times) Day and night, trucks trundle the 10 miles from Algiers port to the suburb of Semmar, where workers unload and stack goods that will feed into a vast black market.Merchants pack ...

 Aug 28 2015 - Egypt power choices appease public, but squeeze industryGulf Times
(MENAFN - Gulf Times) Far fewer Egyptians are complaining about the kind of power cuts that fuelled unrest in the past but government energy policies apparently focused on appeasing the public are ...

 Aug 28 2015 - Saudis seek guidance on economy as stocks gyrateGulf Times
(MENAFN - Gulf Times) Saudi plastic surgeon and stock-market investor Sami al-Harki is looking for help.Al-Harki already lost 40% on his shares, but doesn't want to sell before the Saudi government ...

 Aug 28 2015 - US- Short-handed Giants beat CubsGulf Times
(MENAFN - Gulf Times) Joe Bochy, a San Francisco Giants scout, is in town to help evaluate the club on this homestand. Maybe he can turn in a report on his kid brother, Bruce.When you win with a ...

 Aug 28 2015 - Jordan- Rania: Muslims must do more to counter ISGulf Times
(MENAFN - Gulf Times) Queen Rania of Jordan said yesterday that moderate Muslims were not doing enough to fight against IS militants and their "diabolical ideology". Speaking at a major French ...

 Aug 28 2015 - Abbas heats up Palestinian politics in PLO reshuffle bidGulf Times
(MENAFN - Gulf Times) President Mahmoud Abbas is acting to shake up Palestinian politics, with peace talks with Israel in deep freeze and unity efforts with Hamas Islamists who run the Gaza Strip ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help