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MENAFN - Arab Times - 28/01/2014

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(MENAFN - Arab Times) "In 2014, we will continue to invest heavily in both our people and our facilities to ensure we continue to push ahead and repay the faith of our shareholders." First Dubai Real Estate Development saw operating revenues in 2013 of KD 5.3m, almost doubling the KD 2.8m seen in 2012.

2013 was marked by several highlights for the company, including the completion and successful delivery of The Villa project in Dubai Land, and high demand for office space in Business Avenue in Jumeirah Lakes

An occupancy rate of 88 percent was achieved at the Sky Gardens project in Dubai International Financial Centre

First Dubai Real Estate Development finished 2013 with assets amounting to KD 72.6m, compared to 66.4m a year previously

Liabilities were KD 13.8m, some KD 1.4m less than in 2012

"We are pleased to see stability returning to the UAE property market

In 2014 we will press ahead with several projects, some of which are currently undergoing feasibility studies

These include Shams Abu Dhabi, located on Al Reem Island and the Q Point project in Liwan, Dubai," Engineer Al Saqabi said.

 






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