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Awali Real Estate Investment prepares for Kuwaiti Real Estate & Investment Exhibition

United Arab Emirates: Saturday, October 11 - 2008 @ 16:57

The Real Estate & Investment Exhibition is the first exhibition of its kind in Kuwait, offering an array of services to a large segment of individuals and corporations in the State of Kuwait, the GCC and various other Arab and international countries who specialise in the real estate field.

In a statement on the firm’s participation in this event, Mr. Mohammed Hussein Abdullah Al Nemer, board member and Chief Marketing Officer said,

“The Kuwaiti real estate market is really coming alive at the moment, and we at Awali are keen to explore the possibilities here. We are confident that there is great benefit to be drawn from a strategic entry into this market, both for our company and for the local market. We continuously look for co-investment opportunities with Kuwaiti firms in the Kuwaiti, Saudi and UAE markets”.

Awali’s plans for this exhibition include the launch and promotion in the Kuwaiti market of the recently unveiled Awali City project and the two twin tower projects that Awali is set to develop there in the near future.

Mashrabia Residence is a freehold twin tower project designated for residential use, each tower comprising 25 storeys, with 12 one bedroom apartments and 4 two bedroom apartments on each level, amounting to a total of 800 apartments between the two towers.

Scheduled for completion by the end of 2011, the project boasts state-of-the-art facilities that include 7 parking levels and a total of 417 individual parking spaces.

Each tower offers spacious retail spaces, as well as entertainment and leisure facilities such as a health club and gym on the roof of each tower, and a swimming pool, a Jacuzzi, and a steam room, among others.

The other twin tower project, “Chevron Commercial Towers”, is a pair of spectacular commercial towers featuring all of the facilities essential to modern business.

It is a freehold development comprising two 25 storey towers and 7 parking levels that accommodate 411 cars in all.

Each tower includes 304 offices, amounting to a total area of 375.000 square feet. Each tower offers large retail spaces, entertainment and leisure facilities such as a health club and gym on the roof, a swimming pool, a Jacuzzi, and a steam room.

The Chevron Towers are founded on the principles of quality, dynamism and high returns on investment, offering the latest in sophistication and modern convenience.

Speaking of the significance of these projects to the Kuwaiti market, Al Nemer said, “Ajman is well on its way to becoming one of the Middle East’s biggest real estate investment destinations, and with good reason. We are very pleased to be able to offer our investors a stake in this highly competitive market and, in doing so, to contribute to the healthy relationship shared by the UAE and Kuwait.”

The Awali mega city was launched in cooperation with Ajman Government’s property investment establishment at the beginning of this year, as a debut for the renowned developer in the Ajman real estate market.

The project is a self contained, state-of-the-art, city-size development, spread over an area of 33 million square feet along the Emirates Road, and includes 136 plots of land designated for residential and commercial use.

Awali City will offer a number of 17 to 50-storey towers, which will accommodate more than 120 000 people.

Awali Real Estate Investment recently awarded Adnan Saffarini Engineering Consultants a Dh65 million a contract for the architectural design, supervision and engineering consultancy services for 15 residential and commercial towers in the Ajman based project.

The 15 towers include 11 32-storey towers, which form the Northern and Southern Gates of the city, and four 50-storey towers, which form the City’s entrance from the Emirates Road.

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Saturday, October 11- 2008 @ 16:57 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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