|ACI sees Dubai investments at $2.7bn
ACI Real Estate's investment bourse for the emirates is valued at a staggering Dh10 billion ($2.72 billion) scheduled for both Dubai and Abu Dhabi prime property development.
ACI is an affiliate of Alternative Invest Capital, an innovative investment house from Germany.
The investments to-date include the three sports legend commercial towers, known as the "Trilogy" project situated along Dubai's up market Business Bay; with another five new towers soon to be launched in Abu Dhabi.
"The UAE property market offers significant opportunities for hard currency investors. The global fluctuations in interest rates and imminent slump in the US will continue to divert funds globally to pockets such as the emirates which offer sterling opportunities for ready investors," said CEO of ACI Robin Lohmann speaking recently at an investment meeting with other German investors.
"What is more, the emerging clarity provided by the long term economic vision of both Abu Dhabi and Dubai signal sustainable gains for commercial and residential space, as well as sustained pricing. Such fundamentals make for healthy gains for the prudent investor," he added.
ACI has rapidly raced to the spotlight on the Dubai property front with the announcement of three iconic buildings named for sport legends, Michael Schumacher, Niki Lauda and Boris Becker.
The towers, "Trilogy", as it has come to be known, is valued at over Dh2.2 billion with 1.33m GFA (gross floor area), earmarked for completion in 2009/10, situated along the upscale Business Bay district, where property prices are set to soar
"With time these will stand both as local landmarks, as well as global reference points on one of the region’s most prestigious addresses," said Lohmann.
ACI Real Estate currently has plans for a total of 13 commercial and residential towers investment slated for Dubai and Abu Dhabi. Several of the buildings sold within hours of coming to market, to ready investors across Europe.
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