The Memon Group of Companies has launched a Dubai based property development arm, Memon Investments, in line with its corporate restructuring.
The move comes as the developer’s Champions Tower projects currently under construction in Dubai Sports City, witnessed high market success with all units having been sold out. Ahmed Shaikhani, presently the Managing Director of Memon Group of Companies, will head the new property development arm.
The new property arm will design, develop, lease and manage both commercial and residential properties and will be supported by a marketing and customer service team. The group recently earmarked $272m for real estate development projects.
Ahmed Shaikhani, Managing Director, Memon Investments,said, “The launch of Memon Investments marks our foray as a major contender and comprehensive player offering a gamut of services in the real estate industry. Memon Investments will redefine property development by bringing landmark projects that incorporate the best design, quality and technology and timely delivery. As an investment-driven developer, we will ensure the highest returns while remaining true to our aim of pursuing business activities in an ecologically friendly manner.”
The new property development arm has kick started the process of establishing itself by unveiling a new brand identity which symbolises the aspirations and vision it set forth. Memon Investments’ brand identity also supports the corporate values of the Memon Group and its massive expansion plans for the region.
“Memon Investments is keen on establishing partnerships with corporate firms, leading business houses, banking and financial institutions, and marketing partners to forward our expansion plans for the year 2007,” concluded Shaikhani.
The Group’s UAE portfolio includes prestigious projects such as Champions Towers I and II located at Dubai Sports City. Champions Tower I, an AED 75 million tower, was sold out within weeks of its launch. Champions Tower II, an AED 110 million tower, replicated its success with units completely sold.
With presence in 90 countries, Memon Group of Companies is spread across Asia, Africa, Europe and the Middle East and prides itself on its 28 years of experience in real estate development with over 30,000 units completed worldwide.