Setting the pace for its significant expansion, Al Fara’a Properties, the country’s premier real estate developer, today said it had scaled its land bank through sizeable acquisitions, taking its total value to AED 3 billion in the UAE.
Al Fara’a Properties is part of Al Fara’a Construction Group, one of the largest and most eminent construction groups in the UAE, comprising leading companies such as Unibeton Readymix, Al Fara’a General Contracting, Al Sabbah Electromechanical Construction and Belgium Aluminum &Glass.
The acquisition of land in sought-after destinations underlines Al Fara’a Properties’ aggressive growth initiatives. The development of the newly acquired land is set to strengthen the company’s presence across key master developments in Dubai and Abu Dhabi.
Elaborating on the company’s growth plan, Natasha Gangaramani, Director, Al Fara’a Properties, said, “Real estate has remained one of the most significant asset classes in the region, backed by strong market fundamentals and positive regulations that have enhanced investor confidence. As a company at the forefront of this vibrant sector, Al Fara’a Properties is committed to energizing its growth by offering compelling opportunities to investors.” Our projects combine superior design, quality and timely delivery, enabling end-users to maximize value in the long term.
“The company’s move to step up land bank is a part of its growth blueprint. Acquisitions across strategic locations will translate into a wider and more lucrative choice of offerings, enabling the company to respond to growing investor demand for its properties,” she added. In doing so, Gangaramani said that the company will build on the legacy of Al Fara’a Construction, credited with a 28-year history of delivering a diverse portfolio of projects. Stressing its advantageous position, she added, “As the UAE’s only fully integrated real estate company, Al Fara’a Properties is set to leverage the Group’s strategic expertise in construction, design and supply chain management.
The land bank includes plots spread across Dubai Waterfront, Dubai Maritime City, Palm Jebel Ali, Mina Rashid, Al Reem Island, Downtown Jebel Ali and Mizin. Some of these plots are slated to be developed in 2008. Al Fara’a Properties has drawn up expansion plans that will take the total value of its real estate projects to AED 10 billion by end of 2008.
As the flagship, Al Fara’a Properties has successfully launched a series of premium projects, inspired by exquisite French and contemporary American designs. Its signature projects include the recently launched Burj Al Fara’a, Le Grand Chateau which was awarded the “Best Development” by CNBC, Manhattan Residences, Image Residences and Mulberry Mansions. The company has evolved into a one-stop solution for all real estate needs - development, buying and selling, management and consultancy. Al Fara’a Properties works with world renowned architects and designers such as Norr, John Harris, AWSP and P&T.
About Al Fara’a properties
Al Fara’a Properties is a premier real estate developer and flagship of the Al Fara’a Construction Group - one of UAE’s most eminent business houses, with core expertise in construction, design and supply chain management. Firmly backed by the Group’s rich legacy and capability, Al Fara’a Properties has evolved into a one-stop solution for all real estate needs - development, buying and selling, management and consultancy. The company’s signature projects include Burj Al Fara’a, Le Grand Chateau, Manhattan Residences, Image Residences and Mulberry Mansions.
Founded in 1980, the Al Fara’a Construction Group comprises UAE’s top tier firms in the construction space - Al Fara’a General Contracting, Al Fara’a Properties, Unibeton Readymix, Al Fara’a Precast, Al Sabbah Electromechanical, Belgium Aluminum & Glass Inds, Al Fara’a Interiors & Joinery and Al Fara’a Steel Structures.
