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UAE-based property development company, Durar ('jewels' in Arabic) Properties, has unveiled its newest residential project in Dubai at a gala event held at the spectacular Mina A' Salam.
Durar 1, a spectacular twin-building development, is a joint venture between Durar Properties and Ali and Sons, and is ably supported by leading Saudi-based real estate and property investment groups, Zuhair Al Habib, Saleh Al Habib Investments and Al Mutawa Investments.
"The involvement from Saudi Arabia in this project highlights the growing interest of the global community in the local real estate industry, with the UAE real estate sector attracting Saudi riyal 30 billion of investments in 2007.
"Durar Properties remains at the forefront of this trend and we anticipate continued support from the kingdom ensuring that we build on our initial successes and launch even more lucrative projects in 2009 and the coming years," said Mohammed Miqdadi, general manager, Durar Properties.
"Increased Saudi investment into the UAE has been driven by the emergence of government legislation aimed at protecting investors, which is steadily being refined to benefit more buyers.
"Our tie-up with Durar Properties is a testament to our decision to further our presence in this highly lucrative market and is poised to strengthen and build our reputation for quality and reliability," added Zuhair Abdul Aziz Al Habib, director and chairman, Zuhair Al Habib.
Promising the ultimate in contemporary living, Durar 1 will be conveniently- located at Residence complex in Dubailand, the region's largest tourism, leisure, entertainment and lifestyle destination.
Construction on Durar 1 commenced in May and the handover is expected in December 2009.
