Mulberry Mansions project launched
February 3, 2008
Al Fara’a Properties, the flagship of Al Fara’a Construction & Industrial Group launched there Mulberry Mansions project today. The 95 million AED project is part of a total 6,5 billion AED which will be invested this year by the leading company.
The Mulberry Mansions are luxurious residential developments, which contains 23 town homes within Jumeirah Village. Each luxurious Victorian-styled two-storey townhouse will include 4 bedrooms, a private two-car garage, a terrace, a balcony, maid’s room with separate access, and a small private garden.
Previously, Al Fara’a announced her ‘Le Grand Chateau’ (see picture) and ‘Manhattan Luxury Apartements’ projects, who are also located in the Village and expected to be ready for delivery in the third quarter of 2009. Both projects are sold out.
‘After the successful launch of our previous projects, ‘Le Grand Chateau’ and ‘Manhattan Luxury Apartments’, which has been well-appreciated by our customers as proven by the outstanding sales performance both has achieved, we are confident that our latest project will set new industry standards in terms of creativity and style, thereby reinforcing our leading position in the UAE market. The Mulberry Mansions project marks a successful start of the year for the Group, as we look forward to the launch of more projects within the first quarter of 2008,’ said Al Fara’a Contruction chairman J.R. Gangaramani.
Major brokerages dominate
February 2, 2008
A statistical survey by the Abu Dhabi Securities Market (ADSM) and the Dubai Financial Market (DSM) revealed that the predominating position of the lager firms, has pushed smaller firms into tough struggle for survival, facing a situation of reduced profits or emerging losses. The 20 major firms acquire 61 percent of the market, while the other 83 companies registered in the UAE share the remaining part of the trading market, the figure showed.
Brokerages are representing 50,3 percent of all trading at the DFM (433,7 billion AED) and 65 percent of trading at the ADSM (228 billion AED).
