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Al Barakah announces Dhs4bn sales launch

United Arab Emirates: Thursday, October 16 - 2008 @ 10:50

More than 2.5 million square feet of residential, commercial and retail property on sale, in the most sought after locations in Ajman and Dubai, will give the buyers and investors an option of creating a dynamic investment portfolio with enhanced returns.

1.2 million square ft of gross saleable area in Dhs1.5bn Burj Manara Ajman will be on sale along with Le Stelle-a high end propety proposition in Dubailand and a luxury tower-Al Tafany in the City of Arabia, Dubai.

Al Barakah also announced that it had secured the title sponsorship of the four nation international T20 cricket tournament to be held in Toronto. Called the Al Barakah T20 Canada, the tournament is aimed at creating a brand identity for Al Barakah in the substantial South Asian community in Canada and a demand for the Al Barakah’s UAE property portfolio of over Dhs12bn.

Commenting on the international launch of Burj Manara Ajman in Canada, Mr. Imran Khan said:

“Our decision to organise the international launch of Burj Manara Ajman along with the sales of our other projects in Canada is based on the response of South Asian community to our projects in Ajman and Dubai. We have been receiving a lot of queries from Asian expatriates in Canada.”

“The region has a large number of Indian and Pakistani expatriates, many of whom have moved to Canada from the UAE. This segment of the population in particular is keen on retaining its links to the UAE and are looking for right investment opportunities. We want to target this significant segment of the Canadian population for our realty developments spread across the UAE. The UAE property market is witnessing a boom and attracting investors from across the world,” added Mr Khan.

While the height of Burj Manara Ajman has not been revealed, the 90 storey tower in Ajman will have a built up area of 1.6 million square feet. The top ten floors of the iconic tower will offer serviced apartments while the rest of the floors will offer residential and commercial components. The tower will offer a total 426 residential units including 198 one-bedroom, 157 two-bedroom and 71 three bedroom apartments. 524 units will be available for commercial use with office units ranging from 588 square feet to 1236 square feet.
Burj Manara Ajman is a part of the Dhs4.5bn premium mixed-use development-The Crest.

Envisioned to be an iconic development, the Crest is being considered the most exclusive and desirable address in the entire Marmooka development. Being the single largest project in the Marmooka City- the Crest has all desirable elements that will help it to position itself as hub of the self-sustained master development. These factors along with a competitive pricing add to the attractiveness of the project both as a high-return investment option and as a premium end-user destination. The entire project is scheduled for completion in 2012

Commenting on Al Barakah’s association with cricket for creating a brand identity Mr Khan said: “Cricket runs in the bloodstream of the entire Asian community and our positive experience with the IPL sponsorship catalysed the decision to use the sport for creating a greater awareness for the brand-Al Barakah. In Canada, cricket is now gaining importance and is one of the fastest growing sports today. By associating with a tournament of this nature, we are creating an identity for ourselves in the region. We have a long-term commitment with the organisers and expect to see a rise in popularity of the game as well, over the next few years.”

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Thursday, October 16- 2008 @ 10:50 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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