Marzooq Al-Rashdan and Naif Alrajhi
Abyaar, Alrajhi sign strategic partnership
Dubai, April 1, 2013
Abyaar Real Estate Development and Naif Saleh Alrajhi Investment Company have signed a strategic partnership agreement to develop real estate projects in Dubai.
Works based on this agreement will begin by developing Hilliana Tower which is located within Acacia Avenues project at Al-Sufouh district in the heart of Jumeirah at Dubai City, a statement said.
Marzooq Al-Rashdan, chairman of Abyaar Real Estate Development, said: “We are proud of concluding this agreement with Naif Saleh Alrajhi Investment Company which holds vast experience in real estate development, in order to develop together Hilliana Tower which represents the most important part of Acacia Avenues project whereby its elevation reaches 104 meters and comprising 28 stories.”
The project is located near Dubai Media City and few minutes away from Emirates Mall, noting that the expressways network ensures easy access to the center of Dubai City and also Dubai International Airport.
Al-Rashdan affirmed that this partnership agreement shall enhance regional cooperation and also paves the way for more future projects with the other GCC countries.
The chairman of Naif Saleh Alrajhi Investment Company Naif Alrajhi stressed on the importance of this partnership with Abyaar Company since it is amongst the Gulf companies having impressive track-record in real estate achievements.
Moreover, the strategic partnerships with strong companies would result in qualitative shift in the sector of investment, he added, noting that there are several of these partnerships that have realized successive achievements in the Gulf. – TradeArabia News Service
More Construction & Real Estate Stories
- DWC-Emaar in golf centre deal
- EMart nets $20m from online auction
- Qatar Railways awards $32bn in contracts
- Top regional firms at Cityscape Riyadh
- Habtoor Leighton wins $395m Dubai tower deal
- Bahrain to scrap asphalt subsidies
- UAE bids to host 2018 tunnelling congress
- Bin Faqeeh top sponsor of Gulf Property Show
- Summit to spotlight green building issues
- Cluttons to launch new brand in 2014