Aristocrat partners with PAL and Pacific Ventures for a Mega Real Estate Venture in Dubai
With the air of positivity surrounding the UAE’s real estate trends, several impressive projects have made their debut during the past year. One more such project has announced a launch in September 2014 and with not one but three prominent Real Estate groups backing it, this would surely be one to look out for.
Aristocrat Star Real Estate Development signed a joint venture agreement with PAL Developments and Pacific Ventures for the development of a mixed-use master planned project. The beautifully landscaped community grounds will feature 2000 units in all, comprising apartments, villas, boutique retail spaces, an office complex and a luxury hotel.
Aristocrat Star Real Estate Development has been operational for 30 years in the Real Estate, Manufacturing and Retail sectors. The group has offices across China, Turkey, India, UK and the UAE. ASI established their presence in the UAE with their Dubai office in 2001 and has been active in development and promotion of real estate since.
PAL Developments brings over 3 decades of real estate development expertise and is a Development and Investment Company that is currently at the helm of several projects across the skyline of Dubai that span over a built up of 4 million sqft.
With a vision to develop communities and design lifestyles Pacific Ventures was established in 2011 and has developed a trail of successful residential, retail, hospitality and fitness developments since, including Burj Pacific and Pacific Village.
“Delivering sound investment opportunities packaged within a sense of community was the vision that inspired us to venture into real estate development in the first place. And our upcoming project promises to be just that. We are delighted to be joining hands with two very reputable names that share our vision and investor care methodology,” Said Osman Valli, Chairman, Aristocrat Star Real Estate Development.
“PAL’s objectives are firmly in sync with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum and his remarkable achievement, Dubai. We are excited about our partnership with Aristocrat Star and Pacific Ventures to develop this sustainable real estate milestone, which we are confident, will bring more color to the already vibrant canvas of Dubai. And we strongly believe that this alliance is nothing short of a Dream Team to deliver a project that everyone associated to it can be proud of, ” said Atiq Merchant, Director, PAL Developments.
Commenting on the occasion, Parvez Khan, Chairman, Pacific Ventures stated, “This partnership signifies the upcoming launch of one of the most iconic projects this iconic city is home to. I am truly pleased to enter this joint venture with two organizations that not only possess the skills, infrastructure and dynamic business acumen that is needed to execute a project of this stature. But also share the ethics and sense of commitment that is cornerstone of Pacific Ventures philosophy. We have identified September 2014 as the launch window for this mega project, which we feel will be a landmark addition to the city’s landscape.”