Wednesday, February 8, 2017

UAE developer to launch coastal real estate project

Manazel Real Estate, a leading UAE developer, has announced plans to launch a major real estate project at Ghantoot, a coastal area situated between the emirates of Dubai and Abu Dhabi.

A sharia-complaint real estate company listed on Abu Dhabi Securities Exchange (ADX), Manazel has become a leading developer of quality homes for the UAE’s middle income segment.

Mohamed Mehanna Al Qubaisi, the chairman of Manazel Real Estate, said: "I am delighted to announce this major new project, which reflects our on-going growth momentum, and supports the growth strategy of Abu Dhabi’s Vision 2030."

"We continue to develop and deliver innovative and high quality real estate projects, which are in demand from both UAE citizens and residents but also from customers from across the wider region," stated Al Qubaisi.

"Our planned project in Ghantoot will appeal to customers who are interested in high quality properties, which are in close proximity to both the coast line as well as the ocean and all of the exciting leisure activities that come with such a location," he stated.

"This project is in the licensing stage at the moment with further details to be announced at City Scape exhibition in Abu Dhabi in April 2017," he added.

Manazel, with a paid-in-capital of Dh2.5 billion ($680 million), has strategic investments spanning residential and commercial developments.

The company has been able to strike a balance between creating thriving, sustainable communities and providing the highest returns for shareholders and investors.-TradeArabia News Service

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