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Khuyool Investments invests AED 8 billion in real estate projects in Dubai

United Arab Emirates: Tuesday, February 06 - 2007 @ 11:03

Khuyool announced the launch of its first project called “Abjar Tower”, a 62 floor, AED500 million luxury residential development. Aspire Real Estate, a leading International Real Estate Marketing consultant, has been chosen as the exclusive marketing partner for this prestigious development.

Khuyool, which means horses in Arabic, has been founded by three noted members of the UAE real estate industry namely Mr. Fahad Al Moosa, scion of the Ali Moosa family and partner in the AMS Group, Mr. Harry Kantaria, founder of Aspire Real Estate, an international real estate marketing company, and Mr Kussay Al Sheikh, who is the Managing Director of the company.

“The three promoters bring to Khuyool an unbeatable combination of sectoral experience in the real estate industry. It provides us with an insight into emerging trends in the international and local real estate market and allows us to ride the wave of the boom in the real estate sector in the UAE by judicious investment strategies into emerging profitable ventures.” added Fahad Ali Moosa, Managing partner of Khuyool Investments.

“Khuyool Investments will focus on the booming real estate industry initially and invest in landmark properties in Dubai. Initially we will focus on a “Buy to Lease” model which offers very attractive returns, considering the sky rocketing rental yields in Dubai” said Eng. Kussay AlSheikh, Managing Director of Khuyool.

Khuyool Investments will also develop its own projects to benefit from the high returns in project development.

“We are developing properties in emerging areas like Jumeirah Village, and Downtown Jebel Ali. These areas have the potential to be the most profitable places to invest in and develop at this point in time. We have earmarked a budget of Aed2 billion in Jumeriah Village and an Aed 1 billion investment plan for Downtown Jebel Ali” adds Kussay.

Khuyool Investments is also planning investments of over Aed 20 billion in international real estate markets of India, Pakistan, UK, Syria and Jordan, over the next couple of years. “We have identified fast growing property markets and will develop our own properties in these regions. We are also exploring investment opportunities in Dubai International City and Dubai World Central”.

“By developing our own properties, we will add a very strong baseline to our business model. As we will be able to provide value directly to our investors and create unique commercial, residential or mix-use properties which we will lease out or sell depending on the business dynamics at that point in time”

he added.

The “The Abjar Tower” is an AED 500 million, 62 floor residential tower of prime real estate property located in the heart of Jumeirah Village South. It will have a gross built up area of 622,000 sq. ft. with a judicious mix of Studios, One and Two bedroom apartments, 3 bedroom duplex apartments and 4 luxury penthouses on the sprawling roof top of the luxury high-rise.

Commenting on the penthouses Kussay explained, “It is like having a 9157 square foot luxury villa complete with swimming pool, garden area, BBQ and children play area …. Only that it is on the 62nd floor.”

Elaborating on the sales and marketing strategy, Mr. Harry Kantaria, managing partner of Khuyool Investments as well as the Managing Director of Aspire Real Estate, which is the exclusive marketing partner on the project said, “The building is being launched at prices starting from Aed 620 per sq foot. The pre-launch prices are expected to rise by 15% on launch, and are expected to rise over 50% on completion.”

“The fantastic location of the development combined with the value added features of the building and the price point at which it has been launched as well as the payment plan will generate tremendous demand for this property from local and international investors.” Added Harry Kantaria.

The tower will have world class features like luxuriously appointed lobby and reception, 24 hour IT enabled security and fire management system, several floors of extensive parking area and other world class amenities like IP enabled information backbone and wireless broadband which will connect the entire building.

The Abjar Tower has been designed by Raphael and Agostine, the international architectural design firm.

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Tuesday, February 6- 2007 @ 11:03 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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