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Awali Real Estate Investments opens its offices in Ajman

United Arab Emirates: Monday, June 30 - 2008 @ 11:54

Awali Real Estate Investment’s portfolio in Ajman includes the mega “Awali City” project on the Emirates Road, launched in cooperation with Ajman Government’s property investment establishment at the beginning of this year.

The project is a self contained, state-of-the-art, city-size development spread over an area of 33 million ft² and includes 36 plots of land, designated for residential and commercial use.

Awali City will offers 20 to 50-storey towers that will accommodate over 120 000 people.

Commenting on the opening of the firm’s new office, Mr. Ali Hussein Al Nemer, Managing Director of Awali Real Estate Investment, said:

“The opening of our new office in Ajman comes at a time of significant growth in Ajman’s real estate market, which has made the emirate an attractive destination for property development and investment, thanks to the co-operation of the private and public sectors, as well as the government’s initiatives to develop investor-friendly infrastructures and legal systems. These efforts are now bearing fruit, as evidenced by the recent launch of billions of dollars’ worth of projects in the residential, commercial, tourist and leisure sectors. It is very important to be in direct contact with our customers in Ajman and the neighbouring emirates, so that we can provide them with the best possible service, maintaining and improving our existing relations with them.”

Al Awali Real Estate Investment is a UAE firm based in Dubai, founded by the Saudi-based Awali Real Estate Investment (Al Nemer Group) as part of the mother company’s regional expansion plan, with the aim of capturing a portion of the region’s booming real estate market, particularly in the GCC.

Al Nemer Group, an Awali subsidiary, has over 40 years’ experience in the KSA real estate market and has co-founded a number of real estate companies, such as Jenan Real Estate and Mawten Real Estate, with capitals of SR500 and SR1.2bn respectively.

Recent years have seen aggressive expansion from Al Awali across the region, as the experienced company has entered GCC markets, establishing several real estate and investment companies.

Al Awali has also co-founded a number of companies in the financial and aviation sectors in Bahrain and Kuwait, in addition to Arbah Financial, Watan Financial Investment, Awali Supporting Financial Services, Affaq Aviation, United Holding Company and Dubai-based Essus Real Estate, a joint venture with Dubai Islamic Bank and other strategic partners, as well as forging a number of strategic partnerships.

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Monday, June 30- 2008 @ 11:54 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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