AMS targets sales of over AED 1 billion at Cityscape Dubai ’08
· Bawabat Al Sharq Phase II to be main attraction at iconic show
· Cityscape is key sales platform for off plan projects: AMS chief
Aswaq Management & Services (AMS) – the Abu Dhabi-based mixed-use property consultancy, sales and leasing company – targets sales in excess of AED 1 billion at Cityscape Dubai 2008 – the largest business-to-business real estate investment and development event in the world.
AMS will showcase over 15 projects at the exhibition, scheduled to be held from October 6 to 9 at Dubai International Convention and Exhibition Centre. The key projects on display will be Bawabat Al Sharq, Al Firdous in Oman and Carina Views, Najmat Abu Dhabi. Following the successful launch of Phase I of Bawabat Al Sharq located in Bani Yas, Abu Dhabi, the phase II of the project valued at AED 3 billion promises to be the main attraction at the event and will also be launched at Cityscape Dubai.
Commenting on Cityscape Dubai, H.E. Nasser Mohammed Al Nowais, Chairman of AMS, said: “Cityscape is a key sales platform for off-plan projects, coupled with our strong network and experience within the property and retail sector, we are highly confident about the opportunity available at the event. At Cityscape Abu Dhabi, over 500 investors registered with us of which 75% were fresh contacts. The conversion ratio was also very high, three out of every four prospected customer made a purchase.”
He further added: “The highlight of Cityscape Abu Dhabi was the launch of the Bawabat Al Sharq, we sold 75% of phase 1 in just four days and we are looking to repeat this success with the launching of the phase II of the project at Cityscape Dubai.”
AMS is the exclusive sales agent of Bawabat Al Sharq and will have on display the phase II of the project comprising of 780 apartments and 142 villas. The project is the first luxury mixed-use development situated on 108 hectares of land on one of the main suburban regions in Abu Dhabi. The phase II encompasses the new headquarters for Baniyas Sports & Cultural Club and includes a new International FIFA standard football stadium with seating for 20,000 people.
The AMS Residential & Commercial sales division was set up a year ago and over this time the department has grown considerably and exceeded yearly budgets. Last year AMS had sales worth of over AED 1 Billion. AMS was recently appointed by NREC to provide residential development consultancy services for Carina Views, Najmat Abu Dhabi and currently AMS is negotiating more projects to be added to the existing portfolio and announcements to this effect will be made shortly. The company along with its affiliates is targeting annual revenues of over AED 20 Million in 2008
Among AMS’ clients are leading property owners and developers in the region including Abu Dhabi Trade Centre, Manazel Real Estate, Bani Yas Investment and Development Company, NREC, Sultan Al Dhaheri Group, Solidere, Abdali Investment & Development PSC and Gulf Holding Company.
AMS is also under assignment to handle consultancy, leasing and management for various projects in the region. AMS and its regional affiliates in the GCC-Levant region -- AMS-Dubai, Gulf Management & Services in Bahrain, Beirut Real Estate Management & Services s.a.l. in Lebanon and Amman Real Estate & Management Services in Jordan manage 17 projects, covering a combined Gross Leasable and / or Sellable Area (GLA / GSA) of over 5 million square metres.
Originally focused on retail commercial projects such as the management of shopping malls, AMS has in recent years expanded its services to meet the market demand for similar services for residential and commercial properties.
Today, AMS and its affiliates, through strategic alliances with corporate partners, have grown rapidly to become leading regional players and manage projects in the UAE, Bahrain, Jordan and Lebanon. AMS has also embarked on an aggressive regional expansion strategy.
