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Khuyool Investments acquires land worth Dhs200m in Dubai World Central

United Arab Emirates: Wednesday, April 23 - 2008 @ 13:27

In line with its aims to launch mixed used projects in Dubai with a total value of Dhs8bn by the end of 2009 and expand in various verticals including construction materials and machineries, the developer has recently initiated talks with major construction companies in China to negotiate future joint ventures.

Khuyool Investments Chairman, Eng. Fahad Ali Mousa is optimistic of the outstanding prospects within the rapidly growing economy, after having attended the recently concluded China Import and Export Fair in Guangzhou, China.

Recent studies on the booming construction industry in the UAE reveal that China is currently supplying close to one-third of the building materials presently being used across the country.

Moreover, the rapid growth of the Chinese construction materials exports to UAE and the rest of the world has been reflected by the stronger presence of construction materials companies in China’s largest international trade exhibition.

Identifying the excellent potential in the construction material export business and the advantages of securing a steady supply of construction materials and machineries for its own developments, Khuyool Investments has also divulged plans to open a Chinese subsidiary, which will focus on international trading of in-demand building materials.

“In a little over a year, we have seen tremendous growth in our operations, which has gone a long way since the launch of our first project,” said Eng. Fahad Ali Mousa, Chairman, Khuyool Investments.

“At present, we have earmarked 35% or Dhs3bn of our planned investments in Dubai, including our recent procurement of prime land within Dubai World Central, which we have identified to be a key strategic development and hence, an apt location for some of our high value developments. Our vision as a highly dynamic developer has motivated us to explore possibilities that transcend the bounds of the real estate market, and we are now geared up to penetrate the building materials sector though strategic partnerships with global companies”.

Khuyool Investments has previously launched the Dhs650m ‘Abjar Tower’ in Jumeirah Village South, which was the first of 13 projects that comprise the initial batch of developments under the company’s extensive investment plans in Dubai.

The remaining 12 projects include three high-rise towers and six mid-rise buildings in Jumeirah Village South, and three projects in Downtown Jebel Ali.

With construction on the ‘Abjar Tower’ due to commence shortly, the developer has further revealed to launch two towers with a collective value of Dhs1bn very soon.

“Real estate investors today are more discerning, which is why offering high quality properties with high investment returns is our topmost priority. The soaring regional and international demand, in addition to our confidence in our capacity to address the requirements of customers for commercial, residential and mixed use built space has motivated us to further diversify our portfolio by exploring other markets. In line with this, we are planning to invest over Dhs20bn in the real estate market in India, Pakistan, UK, Syria and Jordan over the next five years,” concluded Eng. Kussay Al Sheikh, CEO, Khuyool Investments.

Khuyool Investments was established by two pioneers in the UAE real estate scene – Eng. Fahad Ali Mousa and Eng. Kussay Al Sheikh.

Driven by strategies aligned with the current market trends and insights, the developer is focused on delivering investments opportunities that ensure high returns.

Though its leaders’ firm resolve to dominate the international and local real estate market, the company is steadily moving towards its goal of making the ‘Khuyool’ name synonymous to landmark properties in Dubai and beyond.

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Wednesday, April 23- 2008 @ 13:27 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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