Al-oula of Development : The kingdom inteds to start properties in Dubai with eight milliards Dirham.
El damam – Abdul wahab Al Mosfer:
The Saudi Company Al-oula for Development declared about its plans to start constructive development project in Dubai Emirate with value reaches eights milliards Dirham With sharing of a number of Emirates investors in a middle location on an area reaches 55 millions feet.
The delegated member Ayedh Bn Farhan Al Qahtani said that the step of the fist for Development Company to enter projects in Dubai comes from the company’s strategy to develop kinds of projects in the Middle East which aim to apply new standards in the development of properties projects. He points that eh alliance with a number of Emirates market will shorten researches and studies operations.
He added that Al-oula Company will depend on applying new philosophy to develop the integrated properties projects in Dubai city. He pointed that the depended philosophy will differ from the properties projects in Dubai. He assured that the details of the project will be shown soon after finishing the all details of it.
Al Qahtani Said that this project is considered the second project for the company in Emirates , after its entering in Am Alqueen project through Middle Eat Emmar company which is being developed I Am al queen Emirate , on the Arabic Gulf Coast . He shows that the company has an intention to develop series of projects in Emirates.
The project exists in a middle place in the Emirate on an area reaches 55 Millions feet.
An integrated properties project will be developed and included commercial, invested and populated units. In addition to a number of high towers. It also includes hotels, educational establishments and shopping centers besides offices.
Al Qahtani expected that the work in this project will start after finishing financial, engineering and properties details. The delegated member of Al-oula company showed that the properties of Dubai market are considered one of the most important of the international markets. It could attract international companies to invest in it via various projects in addition to the vision which has ambition to have an international center in the properties development via its declared projects and the quantity of the properties which the Emirate had during the last period.
He mentioned also , although there are a lot of projects in Durbin this is appositive mark that there is a strong market that enjoys distinguished industry via offer and demand which receive the slayers and the visitors of the city which has an annual development in the number of the slayers and the visitors .
He added that the properties market in Dubai helps in the success of any project because it has the success factors via the properties arrangements and the demand increasing on the projects and the teal Mark on razing the quantity of the properties during the last year.
He assured that a study is being performed new to introduce the components of the project with form that guarantees introducing a different new ideal leader form the other in the Emirates properties market.
Al-oula Company for Development declared to expose international projects which take part in it with money over 100 milliard, Rails in the fifth housing and properties exhibition which started in the period between 11-15 November 2007 at the center of Dahran International exhibitions in the eastern Area.