#APPROVED: IMAGE RESIDENCE , 11-17F Res (Downtown Jebel Ali)

Al Fara’a Properties lunch "Image Residences" project

May 12, 2008, 11:38 am


Al Fara’a Properties, the flagship subsidiary of the Al Fara’a Construction, Industrial and Property Group, has announced the launch of ‘Image Residences’, an Dhs505m two-tower project, which marks the developer’s initial foray into Downtown Jebel Ali.
With the launch of the prime residential towers project, the developer’s projects’ consolidated value has now crossed Dhs1bn after the launch and tremendous sales success of its previous developments including ‘Le Grand Chateau’, ‘Manhattan Luxury Apartments’ and ‘Mulberry Mansions’. Units within the new development, which is expected for delivery in 2011, are being offered at a convenient financing scheme of up to 90% and will be showcased during the developer’s participation at Cityscape Abu Dhabi from May 13 - 15, 2008 at the Abu Dhabi National Exhibition Centre.

A lavish residential development comprising of 17-storey and 11-storey towers, ‘Image Residences’ will offer a selection of sophisticatedly-designed spacious studio, one, two- and three-bedroom apartments and plush townhouses. Each apartment has been imbedded with chic and fashionable details that complement the stylish standard of living in Downtown Jebel Ali, in addition to well-appointed interiors, fully fitted kitchens and spacious walk-in wardrobes. Equipped with smart home technology, the units will have round the clock hour security and CCTV, central air conditioning and state-of-the-art fire alarm system, high-speed internet connectivity and a back-up power system. Ample rest and relaxation facilities will also be provided, including a landscaped leisure deck on the podium level, swimming pools with a separate pool for children, an outdoor seating and BBQ area, a fully-equipped gym and retail outlets at the ground floor.

“The massive developments within Downtown Jebel Ali and its importance as a landmark development in Dubai has truly made an impact on us, which is why we have chosen this location for ‘Image Residences’,” said Natasha Gangaramani, Director, Al Fara’a Construction, Industrial and Property Group. “With the launch of this project, we are expecting to reinforce to investors our unmatched capability in offering top-quality residential developments within the most ideal locations at competitive rates.”

The developer has identified Downtown Jebel Ali as the perfect location for its newest project due to its easy accessibility and the large-scale projects, which are set to be built within this new residential and business community. As one of today’s most important addresses in Dubai, the 200-hectare, mixed-use urban community along an 11-kilometre stretch of Sheikh Zayed Road will have three individual districts - The Urban Centre, The Trellis and The Medina. Upon the completion of the upcoming Dubai Metro system, ‘Image Residences’ will be minutes away from the rest of Dubai and the new Dubai World Central International Airport - the world’s largest passenger and cargo terminal.

“Following the outstanding success of our projects, we are seeking to conquer another important community development in Dubai through the launch of ‘Image Residences’. ‘Image Residences’ carries with it the relaxed but highly stylish aura of our previous projects while complementing the overall theme of Downtown Jebel Ali. We at Al Fara’a Properties are all looking forward to finally launching this project, as well as the new ventures, which we will be announcing in the coming months,” concluded Nitesh Gangaramani, Director, Al Fara’a Properties.

With a keen determination to deliver its projects within their stipulated schedules, Al Fara’a Properties is vigilantly tracking the progress of its development’s construction processes. As a result, the developer has announced that its Dhs225m ‘Le Grand Château’, which has already achieved a sold out status, will be completed and delivered on schedule. The outstanding success of ‘Le Grand Château’, in addition that of the Dhs353m ‘The Manhattan’ and the Dhs95m ‘Mulberry Mansions’, is part of the developer’s plans to launch eight new projects in Dubai in line with the vision of JR Gangaramani, the Group Chairman, who accepted the ‘Lifetime Achievement Award’ at the recently concluded ‘NRI Achievers 2008 - Gulf Edition’.

Press Release

Al Fara'a Properties’ sells out first phase of AED 505 million ‘Image Residences’
Developer seeks to leverage project’s outstanding sales performance to further strengthen expansions plans

May 20, 2008

Al Fara'a Properties, the flagship subsidiary of the Al Fara'a Construction, Industrial and Property Group, announced that it has completely sold out the first phase of the AED 505 million ‘Image Residences’, merely days after the launch of the luxury residential project. Attracting large-scale interest from regional and global investors for its latest project, the developer seeks to leverage the project’s outstanding sales performance to further strengthen its expansion plans. The developer has also completed its successful participation at the recently concluded Cityscape Abu Dhabi held at the Abu Dhabi National Exhibition Centre, where it showcased its latest project and complete portfolio.

The developer has attributed the project’s tremendous success to its high quality and wide array of offerings, which include a selection of sophisticatedly-designed spacious studio, one, two- and three-bedroom apartments and plush townhouses. Comprising of a 17-storey and 11-storey tower, the development will boast of smart home technology, in addition to a host of other amenities such as a landscaped leisure deck on the podium level with a swimming pool and children’s pool, a fully-equipped gym, outdoor seating and BBQ area. Retail outlets at the ground floor will also be available for the benefit of future residents.

“We are extremely pleased with the remarkable turn-out for ‘Image Residences’. The success of our developments continues to be a credible representation of the brand equity we are building for Al Fara’a that is mainly fuelled by our aspiration to let more customers acquire our offerings through our flexible payment terms,” said Natasha Gangaramani, Director, Al Fara’a Properties. “The response we have gathered at Cityscape Abu Dhabi was overwhelming, with our investors showing great confidence in us as a result of our rich history of 28 years in the construction and development industry and our strong commitment to the timely delivery of our projects.”

Providing a fitting location for ‘Image Residences’, Downtown Jebel Ali is a 200-hectare mixed-use urban community along an 11-kilometre stretch of Sheikh Zayed Road that is comprised of three individual districts - the Urban Centre, the Trellis District and the Medina District. Designed to exude the aura of historic desert cities while incorporating modern amenities, the Medina District will provide an ideal backdrop to ‘Image Residences’ and other mid and low-rise residential neighbourhoods. Small courtyards, plazas, cafes and local shops will accentuate the overall family-friendly environment of the district, which will boast of cobblestone streets and walkways to entice residents and visitors to walk around and experience the tranquillity of the new residential hub.

”’Downtown Jebel Ali’ complements our vision for ‘Image Residences’ - one of luxurious living that is in stride with the pace of the fast-evolving modern Dubai. We believe that the wide range of amenities, which perfectly complement the lifestyle of residents seeking to establish themselves within a dynamic environment such as Downtown Jebel Ali, have also driven the success of the project. As a leading developer, our aim is to constantly provide projects, which perfectly address customers’ requirements in terms of quality, location and investment returns,” concluded Nitesh Gangaramani, Director, Al Fara'a Properties.


About Al Fara’a Properties
Al Fara'a Properties was established by the Al Fara'a Construction, Industrial and Property Group, and leverages the Group’s 28 years of experience to build a world-class, professional and client-oriented property development arm. The services offered by Al Fara'a Properties include property development, sales, management, investment portfolio, facilities management, leasing and corporate client consultancy. Born out of the Al Fara'a Group's core values of integrity, customer satisfaction, building partnerships, ethical and professional service delivery, and commitment to enhance customer value, Al Fara’a Properties will keep on track to become one of the premier developers in the region.

About Al Fara’a Construction, Industrial and Property Group
Al Fara’a Construction, Industrial and Property Group has a solid track record of more than 28 years, executing prestigious projects in the UAE, building a reputation for delivering outstanding client value and completing projects on time and within budget. It is a conglomerate of leading business entities including Al Fara’a General Contracting, Unibeton, Belgium Aluminium and Glass and Al Sabbah Electro Mechanical.

Unibeton, is the market leader in ready mix concrete, and recently created history by pouring a record 22,000 m³. of concrete in less than 35 hours at Al Attar Sky Spiral, Dubai. Belgium Aluminium and Glass is UAE's largest service provider for the fabrication and installation of aluminium and glazed structures and decorative metal work. Other business entities of Al Fara’a Group deal in contracting, precast, joinery, and steel structure, covering the entire domain of the Construction Industry. Led by a team of experienced engineers, managers and technical experts, Al Fara'a Construction Group utilises the most advanced technology and offers multidisciplinary services through one client interface, which reduces costs, simplifies the most complex projects, and enables the company to deliver premium value to the client.