#APPROVED: STALLION TOWER, 41F Res, (JVC)

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#APPROVED: STALLION TOWER, 41F Res, (JV South)

Khuyool unveils Stallion Tower

Parisian Girl said:

Dh350 million Stallion Tower real estate development unveiled in Dubai's Jumeirah Village

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by Conrad Egbert on Saturday, 03 May 2008

Dubai-based property developer, Khuyool Investments, has launched its US $95.3 million (AED 350 million) Stallion Tower in Jumeirah Village South.

The project which aims for completion in the second quarter of 2011 is part of the developer's bigger plan to invest US $2.2 billion in the property and real estate sector in the Middle East by the end of 2009.

The 41-storey tower will have a total of 286 residential apartments with a total built up area of 22,612m2.

In addition, the project will include a gymnasium, swimming pool, a tennis court, a recreational area, a retail arcade on the ground floor and a seven level basement parking lot that will accommodate 349 cars.

Khuyool Investments previously launched the $177 million Abjar Tower in Jumeirah Village South and has purchased land valued at $54.4 million within Dubai World Central, a development close to Jebel Ali that includes Dubai's new international airport.

It plans to develop a mixed-use and residential complex there.

Engineer Fahad Ali Mousa, chairman of Khuyool Investments, said: "The Stallion Tower marks the start of another milestone for us. Today's real estate landscape thrives on diversity, and we believe that this project further diversifies our current portfolio of high value projects."

R

Press Release

Khuyool leverages Gulf's USD 1.9 trillion construction boom as new strategy focuses on boosting growth

Dubai-based developer unveils new corporate strategy and showcases AED 1.3 billion worth of prime projects at Cityscape Dubai 2008

October 8, 2008
Khuyool Investments, one of the fastest growing property development firms in the Gulf, has unveiled a newly reworked corporate strategy to harness the full potential of the Gulf's USD 1.9 trillion construction boom, as part of its activities at Cityscape Dubai 2008. The new corporate strategy for 2009 will fortify Khuyool's stronghold in the regional market and will carry forward the momentum generated by the company's highly successful strategic plans in the past two years.

Khuyool is likewise presenting a number of premium real estate developments with four key projects collectively worth AED 1.3 billion serving as its centerpiece showcase at Cityscape Dubai, the largest business-to-business real estate investment and development event in the world. Khuyool is exhibiting at Stand RF 10 of Rashid Hall.

“The Gulf has been a global hotbed for construction and real estate development activities and it shows no signs of abating. The region's USD 1.9 trillion construction boom has opened plenty of opportunities for growth and we believe that such a competitive and rapidly evolving market requires a forward-thinking strategy that ensures both the sustainability of operations and profits and conformance with the evolving needs of property consumers. We have unveiled our blueprint for success during Cityscape Dubai, which has definitely excited both our current and prospective clients and partners,” said Engineer Fahad Ali Mousa, Chairman, Khuyool Investments.

Khuyool revealed that its strategy for 2009 will concentrate on consolidating the company's market share and further expanding its presence in new high-growth areas. Khuyool also announced that its new strategy will build on the success of its 2007 strategy, which focused on establishing the company as a leading force within the regional real estate market, and its 2008 strategy, which stressed on exploring new markets.

The premium properties Khuyool is showcasing at Cityscape Dubai include the AED 650 million, G+ 62-storey Abjar Tower, the tallest structure in Jumeirah Village South; the AED 350 million, G + 41-storey Stallion Tower, a geometrically inspired residential complex; and the Muhra and Faras Buildings, which are valued AED 150 million apiece. All projects are within Jumeirah Village South, a highly strategic location adjacent to Dubai Media City, Dubai Internet City, Jebel Ali and other free zones.

“Khuyool is committed to provide true value to our customers in all our property offerings. We believe this has been an important contributing factor to the success of our corporate strategies over the years. Although Khuyool has fine tuned its corporate strategy for 2009 to reflect the changing dynamics of the real estate market, our passion to deliver optimum customer satisfaction remains a crucial component in all our initiatives, ensuring the same level of excellence and quality that our clients truly deserve," said Engineer Kussay Al Sheikh, CEO, Khuyool Investments.

Khuyool Investments is actively involved in various sectors, including property development, machinery and equipment trading, interior designing, and crusher and quarry production. The Dubai-based group of companies was founded by renowned UAE entrepreneurs Eng. Fahad Ali Mousa and Eng. Kussay Al-Sheikh. Khuyool has been expanding its investment portfolio outside the UAE; it is currently represented in Syria by Al Sheikh Investment and maintains a subsidiary in Beirut, Lebanon. It has announced AED 8 billion worth of domestic real property investment plans and is set
to announce a number of major developments in Jordan, Syria, UK, Kazakhstan, Pakistan and India.

Stallion Tower

Hi,

I am new to this forums, I have registered just now. We are two investors,resident in UAE having 2 units with Khuyool ("Muhra" - later "Faras" project")

I have attended the "SWAP" meeting yesterday. Khuyool has done partnership with Al Masah International to offer their project to khuyool investors.

Below are the details.

1. Our muhra purchase price with Khuyool was 575AED/sq.feet. I have contract for 1-Bed in Muhra I with anticipated completion date June 2009

2. We have already paid 55% of the total price for each unit.

3. Yesterday, 2 years later after the contract, Al Masah representative trying to offer me and AGAIN off-plan units with price @40% increase @800AED/sq.feet in Silicon Oasis, and similiar

Well, as I see it, it is not really "swap" meeting, it is a "throw away 55% invested so far and pay again" meeting. In our case, we have paid around 300,000 AED for the 600,000 AED 1-Bed in Muhra. In the meeting, the price for offered apartment was 900,000AED minus existing payments against the MUHRA, which came again to new 600,000AED.

800AED/sq.feet are not even prices of ready made developments in Marina today, and Khuyool is offering 2 years promised off-plan development with Almasah in JVC for this price!

This is a clear message for me, there is no end to it, unless there is a clear message to khuyool from the Dubai Courts, or group meeting of all Muhra Investors against Khuyool to force them to better deals.

I am therefore looking for following in this forums.

1. Are you the Khuyool Investor, would you like to join and create the group to spread the legal fees and search the legal advise and file a case against the Khuyool, we are already 2 investors.

2. Do you wish to participate in the group meeting with Khuyool to discuss the swaps and force same prices as offered ny Khuyool initially.

3. Do you know any other khuyool investors, and how can we discovere their contacts.

3. What is your experience with Khuyool?

I believe there is a good chance to win a legal case in case of Muhra, since Khuyool will not build it. They claim Nakheel didn't handover fully the plot, but khuyool already change the plot name, change the project name, change the project plan - they call it now "faras" and I have not sign any contract for this, also if some people will swap, there will be no demand for Khuyool to build anything. So if they are not delivering Muhra units, they have to refund the clients at the end...

Please contact me on my pm or [email protected] email.


Thanks
swimmer1