Khuyool Investments, a leading Dubai-based property developer and investment specialist, has acquired prime plots of land amounting to Dh200 million ($54.48m) in Dubai World Central (DWC), the 140-square km urban land development being constructed around the world's largest airport.

In line with its aims to launch mixed used projects in Dubai with a total value of Dh8 billion by the end of 2009 and expand in various verticals including construction materials and machineries, the developer has recently initiated talks with major construction companies in China to negotiate future joint ventures.

Khuyool Investments chairman Fahad Ali Mousa is optimistic of the outstanding prospects within the rapidly growing economy, after having attended the recently concluded China Import and Export Fair in Guangzhou, China.

Recent studies on the booming construction industry in the UAE reveal that China is currently supplying close to one-third of the building materials presently being used across the country.

Moreover, the rapid growth of the Chinese construction materials exports to UAE and the rest of the world has been reflected by the stronger presence of construction materials companies in China's largest international trade exhibition.

Identifying the excellent potential in the construction material export business and the advantages of securing a steady supply of construction materials and machineries for its own developments, Khuyool Investments has also divulged plans to open a Chinese subsidiary, which will focus on international trading of in-demand building materials.

“In a little over a year, we have seen tremendous growth in our operations, which has gone a long way since the launch of our first project,” said Ali Mousa.

“At present, we have earmarked 35 per cent or Dh3 billion of our planned investments in Dubai, including our recent procurement of prime land within Dubai World Central, which we have identified to be a key strategic development and hence, an apt location for some of our high value developments. Our vision as a highly dynamic developer has motivated us to explore possibilities that transcend the bounds of the real estate market, and we are now geared up to penetrate the building materials sector though strategic partnerships with global companies.”

Khuyool Investments has previously launched the Dh650 million ‘Abjar Tower’ in Jumeirah Village South, which was the first of 13 projects that comprise the initial batch of developments under the company’s extensive investment plans in Dubai.

The remaining 12 projects include three high-rise towers and six mid-rise buildings in Jumeirah Village South, and three projects in Downtown Jebel Ali. With construction on the ‘Abjar Tower’ due to commence shortly, the developer has further revealed to launch two towers with a collective value of Dh1 billion very soon. – TradeArabia News Service