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Fatima International delivers Dhs270m IT Plaza project at DSO

United Arab Emirates: Sunday, November 02 - 2008 @ 11:18

The work on the project, awarded to Sobha Contracting, a prominent construction firm in India and the Middle East, was kicked off in February 2007.

“We strongly believe that we can capitalize on the advantage of the timely completion of this prestigious bench mark project at DSO and our position as one of the pioneers at DSO. The timely delivery of IT Plaza will enhance our satisfied customer base across the globe. During the implementation of this project, we have gained additional expertise that would help broaden our business scope and provide opportunities to set up additional business activities, including Project Management and Facility Management. This achievement has definitely boosted our level of confidence, and we are coming up with new projects, in Downtown Jebel Ali, Palm Jebel Ali, Water Front, Jumeirah Lake Towers, Liwan, and in Al Marjan Island in Ras Al Khaimah,”

said Mr. Nasir A. Mehmood, Managing Director of Fatima International.

“Integrated solutions, personalized attention, competitive prices, and attractive payment plans are part of our strategy to maintain our lofty standards in the highly competitive market. Developing distinction is our motto as well as passion,”he added.

Commenting on the Dubai real estate market and its impact on Fatima International’s future activities, Mr. Mehmood said, “The so called cooling of real estate boom in Dubai will not affect us due to our strategic alliances, non-speculative customer base and long-term vision. Though the financial crisis is a global phenomenon, Dubai will maintain its uniqueness as it keeps high standards and follows the vision of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. We see no reason for a slow down for long.”

“We have embarked on projects worth more than Dhs2 billion in the UAE. We have three projects in Jumeirah Lake Towers, out of which two projects are ready and we have started handing them over to the clients, whereas the third project is in construction stage. We have a project in Downtown Jebel Ali Zone-1, which is in pre-construction and design stage where we have already secured the land and escrow arrangements are in place. We have another project in Liwan, which is in schematic design approval stage. Yet another project is coming up in Al Marjan Island, Ras Al Khaimah, which is in the final design stage” said Mr. Mehmood.

Mr. Yasir Iftikhar, Project Manager of Fatima International said, “The project has gained an incredible 143% appreciation in property value since its launching. We have around 60 clients for 290 units. We have right mix of investors and end users.”

He added that IT Plaza, which has seen an overwhelming interest by local companies as well as MNCs since its launch, would house outlets for IT and related products such as computers and microelectronics as it targets IT professionals who are mainly into development and core business fronts. IT Plaza features one of the tallest atriums in Dubai, with 65 metres height.

“We take pride in the timely completion of the work of our first tower in the UAE with high quality,” said Ajay Rajendran, Vice Chairman of Sobha Group, adding that Fatima International was one of the finest and cooperative clients Sobha has worked with.

IT Plaza is a G+14 tower built on a sprawling land area covering over 72,000 sq ft. The building consists of 100,000 sq ft shopping area that will house 70 outlets, a multi-cuisine food court, a café lounge and a parking facility for over 500 cars.

Fatima International, the developers of IT Plaza is an international conglomerate with expertise in diverse sectors such as exports, construction, project management and consultancy.

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Sunday, November 2- 2008 @ 11:18 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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