(MENAFN- Khaleej Times) On April 15 Manazel Real Estate said it is obtaining necessary approvals for its upcoming projects valued at Dh3 billion in the capital.
Abu Dhabi: Manazel Real Estate is gearing up to invest in the healthcare sector. The developer is allocating Dh1.6 billion for establishing a medical complex and housing units for doctors and other employees in Abu Dhabi. The project is expected to break ground in the third quarter of 2016.
With a growing number of tourists in the emirate Manazel is also exploring opportunities in the hospitality sector. The real estate company plans to utilise its land bank for revenue-generating ventures it said in a statement.
On April 15 Manazel Real Estate said it is obtaining necessary approvals for its upcoming projects valued at Dh3 billion in the capital.
The annual general meeting (AGM) of Manazel Real Estate chaired by Mohammed M. Al Qubaisi voted in favor of retaining its 2014 net profits in full to support the firm’s expansion plans.
“With the wider growth aspirations of the Abu Dhabi Economic 2030 vision as our backdrop we will continue to invest in our business in order to accelerate our growth and capitalise on the significant opportunities that exist within the UAE’s robust real estate market” Al Qubaisi said at the AGM.
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