DUBAI, 5 December 2004 — Dubai International Properties, a Dubai Holding member company, is getting ready to launch large projects in a number of countries in the Middle East. These projects will reflect modern architecture with strong ethnic influences, as is the case with all the newly constructed buildings in the city of Dubai.
Farhan Faraidooni, CEO of Dubai International Properties, said: Each of the company’s projects will reflect the modern architecture style followed in Dubai. The uniqueness of the projects will also be reflected in their costs as well as construction periods.” He added: “The total investments of the company’s projects are estimated to be in billions of dollars.” According to him, the company has been researching target markets to know what they lack. He pointed out that Dubai has earned a good reputation in terms of its architectural marvels such as the Burj Al Arab, Emirates Towers, The Palms, Dubai International Airport, Burj Dubai and other similar landmarks, which are considered to be modern day marvels.
He added that the reputation that Dubai has earned gives DIP the confidence to carry out its projects and guarantees the success of its new projects in the region. Faraidooni said it is the company’s strategy to extend its operations all around the world, especially in countries which have been witnessing economic and political stability. These markets are suitable for the company’s products and they can benefit from the experience of Dubai.
“Dubai International Properties has made a geographical allocation. The purpose is to estimate investments in every targeted market. The company is initially targeting Middle East countries that have been attracting huge investments in their real estate sector, especially Qatar, Lebanon, Libya, Jordan, Bahrain, and Turkey,” the DIP chief said.
He added: “DIP operates according to a five-year plan that has been set. This plan will help us cover large areas around the globe and enter a number of attractive markets for the property sector over the next five years. We will balance our risk through collaboration with a number of top international property companies.”
