Makaseb Holding, one of the leading regional development and investment companies, and Tasees, the subsidiary real estate development and investment arm of Tamerat Almousa Group have announced a rare offer to buyers that guarantees return on investment in its Quattro West project. Inspired by the holding's name, which means “benefits” in Arabic, Makaseb's irresistible guaranteed-profit offer is part of a strategic move to increase market share by building trust among short and long-term investors.
The AED 1 billion Quattro West project comprises furnished hotel apartments managed by the international British company “Sanctuary Hotels and Resorts”. The rooms are sold according to flexible payment programs, which offer buyers five percent annual profit on payments made during the three-year construction period. On completion, the buyer will get a seven percent annual profit from the total price of the apartment for three years which returns a total of approximately 30% through the whole interval during which Quattro West will manage the apartment and put it up for rent with the buyer having the right to use it for two weeks each year.
"Building investor trust is paramount in a competitive market and we believe that offering guaranteed returns will help strengthen our ties with investors. On top of sure profit, Makaseb also guarantees high quality and prompt delivery of the project," said Eng. Hesham Abdel Ghani, Founder and Executive Director, Makaseb Holding.
The Quattro West project comprises a luxury five-star Hotel with 350 rooms, an exquisite Shopping Mall with brand showrooms from all over the world, an Office Tower that has 45 floors of Individual Freehold office units, and a Hotel Apartment block with 260 premium Hotel Apartments. The five-storey base will feature shopping malls, a banquet hall, a convention centre, a business centre and a parking facility. Built on a ground area of 103,000 square feet with a built up area of one million square feet, Quattro West is located at Jumeirah Village, along Al Khail Road, at the gateway to the commercial district.
"Our huge investments in the project manifest our strong commitment to provide only the best to our investment partners. Makaseb has the experience, expertise and financial resources to deliver its promise of world-class properties to investors," said Abdel Ghani.
Makaseb Holding is a joint venture between the Rufi Group of Companies, Sharm Land Limited, A&A Investment and Quattro. With a total of approximately AED 20 billion in investments and projects, Makaseb has embarked on a rapid expansion and diversification strategy that draws on its founding companies’ diverse international experience and regional networks.
Tasees is a premier development and investment company with a portfolio of prestigious residential and commercial projects in the UAE. It is the subsidiary real estate development and investment arm of Saudi Tamerat Al Mousa, which represents several Saudi private and family-owned businesses.
© 2007 Al Bawaba (www.albawaba.com)
