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Al Basel Real Estate Brokers achieves AED 500 million sales revenue in first year of operations

left to right: Basel Alkasem, Chief Executive Officer, Al Basel Real Estate Brokers Mohamed Ahmed Ramadan, Managing Director, MadaCin Properties.

Facilitates AED 75 million in sales for MadaCinCs Marina Arcade within just two weeks of appointment as well as AED 100 million for Tonino Lamborghini Tower

Al Basel Real Estate Brokers, a leading property sales intermediary, has announced today (Thursday, May 15, 2008) that its sales revenues have topped AED 500 million in only twelve months since its establishment in May 2007, following its appointment as sales agent for a number of high profile projects in the UAE, the most latest of which include MadaCin, Fakhruddin, and Tonino Lamborghini.

The company has already facilitated more than AED 75 million in sales for the Marina Arcade, MadaCin PropertiesC AED 1.25 billion flag ship project in Dubai Marina, within just two weeks its appointment as sales agent. Furthermore, Al Basel has also generated sales of over AED 100 million for the Tonino Lamborghini Tower, as well as substantial sales for FakhruddinCs Maimoon Twin Towers, the prestigious residential project located in Jumeirah Village South.

Al BaselCs strategy of showcasing the economic potential of DubaiCs booming property market has also attracted several first-time elite investors, including H.R.H. Prince Sultan bin Fahed Al Saud, a member of the Saudi royal family; and Mohamed Fathi, owner of the largest AC manufacturer in Egypt.

"Our growing portfolio of high-profile clients has been boosted by newly sealed partnerships with renowned developers Mada’in, and Fakhruddin. These new elite clients reflect the quality of services we offer and the extensive and diverse markets that we cater to," said Basel Alkasem, CEO, Al Basel Real Estate Brokers.

"Moreover, Al Basel Real Estate Brokers’ strategic partnership with Mada’in, one of the most prolific and well-known developers in the region, will help us provide a rich array of choices to satisfy various client preferences, as MadaCin boasts an impressive line of high-quality and unique property development projects," added Alkasem.

Al BaselCs sales success with the Marina Arcade is a key element to MadaCin PropertiesC ultimate goal of launching four projects this year with a combined value of AED 3 billion. The Marina Arcade comprises a 60-storey tower connected to a glass-roofed shopping arcade. The project also includes a range of one-bedroom, two-bedroom and three-bedroom apartments, duplexes, penthouses and seven townhouses with gardens and Jacuzzis on the rooftop of the Marina Arcade.

To achieve similar success next year, Al Basel continues to intensify its operations across various high-end market segments, taking advantage of aggressive government-led investments in public and private sector projects, which economists have estimated to be worth over USD 1.25 trillion.
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