An investment of over Dh275 million in Fugen Homes first development project in the UAE called Rainbow Towers was made by TAKtical Realty Group, a Dubai-based real estate brokerage and strategy firm and subsidiary of TAKtical International, along with investment and development company, Katalina Investments, Ltd.
The Dh500 million Rainbow Towers project in Umm Al Quwain was recently launched by FuGen, an international project management and investment company based in UK according to Khaleej Times, through its wholly owned subsidiary, Fugen Homes Building Construction LLC.
"We are very happy that TAKtical has shown their confidence in our abilities by making such an investment. Plans are in place to commence with ground breaking by mid-December and we expect completion within 14-16 months of that," said Joni Sukumaran, CEO of Fugen Homes.
The project which comprises seven towers and 1008 flats/units is targeted at lower income families and individuals. Although based in Umm Al Quwain, Rainbow Towers is strategically placed on Al Itihad Road within minutes of Hamriyah Port and Nujoom Islands in Sharjah.
