Mina Al Fajer Resort Sets Sights on Kuwait
Mina Al Fajer Real Estate LLC, developers of the AED 800 million Mina Al Fajer resort project in Fujairah, has set its sights on attracting investors in Kuwait where it plans to participate at the Kuwait International Property Show on April 14-18, 2008 at the Kuwait International Fair Centre.
Banking on its previous successes in Dubai, Abu Dhabi, Bahrain and most recently in Qatar, Mina Al Fajer’s regional roadshow is expected to achieve yet another milestone for the company, which has now sold more than 82% percent of the units in the resort.
The impressive sales accomplishment is a testament to the resort’s impeccable development and potential as an investment. Once completed, Mina Al Fajer will feature a superb sea-front community that will include a marina, 48 mountain villas, 13 solarium villas, and 80 marina apartments, in addition to a 200-room five-star hotel that will be managed by the Fairmont Hotels and Resorts.
Mr. Abdulrahman Al Awar, Managing Director, Mina Al Fajer Real Estate LLC and Director of Development and Investment in the private office of His Highness Dr. Sheikh Sultan bin Khalifa bin Zayed Al Nahyan, sees Kuwait as a huge market that remains untapped. “Kuwaiti investors make up a large percentage of investors in the real estate sector worldwide. They typically move towards searching for new opportunities in active and vital markets abroad. Mina Al Fajer resort is expected to jumpstart the growth of tourism and real estate in Fujairah, and thus offers a great investment opportunity for Kuwaitis who want to be a part of this growth,” he added.
Al Awar mentioned that the remaining units still available after their latest participation in the Qatar Real Estate & Investment Exhibition include the two- to three-bedroom apartment units, and the three- to four-bedroom villas. He also reported that 100% excavation works have been completed for the hotel and land reclamation of the Marina apartments with 85% of the construction work on their world-class marina also completed.
With nature providing a dramatic backdrop to an upscale and exclusive resort, Mina Al Fajer promises contemporary, luxurious living experience. It is on track for completion by end of 2009.
