Issue No 278 - 11 Aug 2008
Aber real estate investments hit $408m

Aber Group, a prime real estate developer in the UAE and Middle East, said that its current investments in the property sector have risen to Dh1.5 billion.

The company investment portfolio comprises free hold, villas, hotels, commercial tower, warehouses and various labor camps projects spread across Dubai and Abu Dhabi and the Northern Emirates.

Aber Group said that the construction work for two hotels, warehouses and labor camp has been completed.

Aber Khalfan Al Hameli, chairman of Aber Group said: “We are glad to see the construction work for most of our projects getting completed with minor delays occurring due to business hiccups beyond anybody’s control."

"As a four year young company we have accomplished our set goals and we are now aiming for the next level of growth. With the new projects coming on stream, we believe we will have delivered significant value to our investors and other stakeholders," he opined.

Samir Patni, general manager, Aber Group said two of the hotel projects will be open for business early next year.

"We have already signed a hotel operating management contract with Millennium Hotels & Resorts Middle East (MHR)," he added.

MHR will also manage Aber Group's newly-built Mazoon House Hotel in Dubai by the end of this year.

The hotel operating management contract was signed by Ali Hamad Lakhraim, president and CEO of Millennium & Copthorne Hotels and Resorts Middle East and Aber Khalfan Al Hameli in the presence of Kwek Leng Beng, Chairman of Millennium & Copthorne Hotels.

With a mission to deliver world-class projects and developments, Aber Group develops projects that range from luxury residential apartments to furnished hotel apartments, from showrooms to commercial warehouse and from villas to labor accommodations.

Source: Trade Arabia News

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