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Burooj Properties to exhibit Dhs3bn worth of properties at Cityscape Dubai

Location : http://wikimapia.org/#lang=en&lat=24.497332&lon=54.400687&z=18&m=b

Burooj's stand at Zabeel Hall (ZH60) will showcase two new projects on Al Reem Island - Burooj Crystal and Burooj Terraces. The company will also feature Burooj Pearl, a 26-storey residential tower being developed near the Central Park on Shams Abu Dhabi.

Adel Ahmed Al Zarouni, Managing Director of Burooj Properties, said:

'Cityscape Dubai is one of the world's leading real estate shows and provides us with an important platform to showcase our projects and development plans before a high quality audience.'



Noting that Burooj's participation at Cityscape Dubai last year was a tremendous success, Al Zarouni said: 'We are very confident that this year Burooj Properties' presence at the show will result in positioning Burooj prominently in the industry. During the Abu Dhabi edition of Cityscape held in May this year, we've recorded overwhelming response from the market and this has reflected positively on our sales during that period.'

Citing a very recent survey about buying property in Abu Dhabi, which was conducted by Ameinfo in collaboration with Burooj Properties, Al Zarouni said Abu Dhabi is now one of the world's most promising markets in the real estate sector. An estimated investment of Dhs600bn is being injected in various development projects on Al Lulu Island, Al Reem Island, Al Raha Beach, Yas Island, Khalifa City, Saadiyat Island and Mussafah to cater to the emirate's projected population growth which is expected to reach 3.1 million by 2030 from the current 930,000.

http://www.ameinfo.com/170331.html
 

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Burooj launches two Reem Island towers



Abu Dhabi-based developer Burooj has launched two residential towers on Al Reem Island. The Crystal will have 322 apartments while the Terraces will have 270 units.

Piling for both projects will start early next year, with a planned delivery date of 2011.

Both projects are aimed at consumers rather than speculators and financing is offered through parent Abu Dhabi Islamic Bank.

Managing Director of Burooj Properties, Adel Ahmed Al Zarouni, said

although aimed at end users, the company could not speculators buying. Asked if the company was going to the follow the lead of some other developers, and put in place measure to minimise flipping, he said: 'We've not put in controls to stop flipping, but we are thinking of doing so. We're looking at what other developers have done and waiting for government regulations.'

With growing concern over property prices, and a belief that in Dubai the cost of property is likely to stabilise - if not drop - he said Abu Dhabi prices were likely to continue rising, because of the shortage of supply.

'The whole Gulf is becoming like a village and we are all connected. It will reach us and we have seen signs. But to what extend we don't know.' With the region's strong economy, he felt any impact the global financial problems have on the Gulf will be short term.

Zarouni believes in Abu Dhabi, supply will not come close to equalising with demand for another four years, but actually get worse in the near term. Within eight years, he added, demand is likely to equal supply.

With properties underway in Abu Dhabi, Burooj plans to expand internationally, in particular in to Egypt and Algeria. Next year it will have a project in New Cairo, plus is starting Burooj Algere.

http://www.ameinfo.com/170759.html
 
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