Memon Investments to deliver ‘Champions Tower I’ in first quarter of 2012

Memon Investments to deliver ‘Champions Tower I’ in first quarter of 2012

Leading property developer reveals smooth work and timely pace of construction on projects in Dubai Sports City

August 22, 2011

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, Shaikhani Group, has confidently revealed that Champions Tower I (CTI), the first of the four Champions Towers, will be delivered to its customers in the first quarter of 2012. The leading developer has reported completion on CTI’s structure and blocking works and is now currently working on the first floor windows and tiling works at a very timely pace. The latest report reflects the company’s commitment towards meeting its construction deadlines amidst the challenges left behind by the global economic downturn.

The company has also reported that they are on track to meet their deadlines for the other Champions Towers projects and Frankfurt Sports Tower. The expected dates of completion include CTII in December 2012, CTIII in June 2012, CTIV in December 2013 and FST in June 2013. Takmeel, the Shaikhani Group’s newly launched turnkey services provider, will render strategic services like Design Consultation, Value Engineering and Project Management for CTI. Also, Memon Investments has revealed that the awarding of various contracts to some of the UAE’s leading contractors has played a key factor in the fast paced construction of the towers. Stromek Emirates Foundation completed the initial excavation and foundation work on the five projects, while Al Sarh Contracting facilitated the construction work and leading MEP contractor Amwar Al Aqsa managed the electrical, plumbing, fire alarm and fighting components.

“The smooth flow of construction and the fast pace of work rendered by our contractors have given us the confidence to assure our investors that we will be able to turn over Champions Tower I by early next year,” said Ahmed Shaikhani, Managing Director, Memon Investments. ”We remain fully committed to our promise of on-time project delivery. In fact, our newly launched turnkey services provider arm, Takmeel, will be providing turnkey design consultation services for Champions Tower I before it gets turned over to our clients.“

With a total built-up area of 105,133 square feet, CTI is a 15-storey tower, which will include 135 apartments comprising 49 studios, 50 one-bedroom and 50 two-bedroom apartments. The tower also provides easy access to an 18-hole golf course, a cricket stadium and various sport-oriented academies, rugby and football pitches and a track and field stadium. CTI is also equipped with modern facilities including a communal swimming pool, spa and sauna, Jacuzzi, a fully equipped gymnasium and an indoor games room.

“We are also pleased to share that Champions Towers II, III, IV and the Frankfurt Sports Towers are also moving at a pace that is sure to meet its scheduled deadlines. These projects give a clear vision of the company’s move to provide the UAE with world-class property development projects that meet the demands of our intended target markets. We remain steadfast in the move towards redefining the country’s real estate sector and play a key role in driving in economic progress,” concluded Ahmed Shaikhani.

About Memon Investments LLC
Founded as the property development arm of the international business conglomerate, the Shaikhani Group of Companies, Memon Investments has grown to become a leading property player in the region offering a diversified portfolio of premium property projects. Guided by a tradition of excellence, the developer’s intense focus lies within its core competencies, specifically acquisition, design and development, consultancy, leasing and management of properties. Leveraging the Shaikhani Group’s extensive real estate development experience, Memon Investments’ UAE portfolio comprises of prestigious residential projects including ‘Champions Towers I, II, III, and IV’ and ‘Frankfurt Sports Tower I’ in Dubai Sports City; ‘Gardenia I & II’ in Jumeirah Village, and its inaugural commercial venture -‘Cambridge Business Centre’ in Dubai Silicon Oasis, all of which embody the developer’s trademark top-notch quality and uniqueness.

Having delivered over 30,000 units across the globe with a presence in 90 countries spread across Asia, Africa, Middle East and Europe, the Shaikhani Group of Companies is presently commemorating its 30th year of delivering unique offerings and services to its global customers. In addition to its extensive expertise in the real estate market, the Group has also built a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development. As a socially-aware international corporation, the Group has devoted 19 years in support of the Shaikhani Foundation (formerly Rabia Charitable Foundation and the Rabia Relief Fund).

Dubai's residential property prices likely to recover by 2011, says Memon Investments

Dubai's residential property prices likely to recover by 2011, says Memon Investments

Developer boasts of portfolio consisting of high profile residential development projects valued at AED 1.34 billion

January 18, 2011

Residential property prices in Dubai are likely to recover by 2011 as the market witnesses continued signs of improved lending from 2009, which is expected to continue until 2011, said Memon Investments, a leading Dubai-based property developer and part of the multibillion dollar international business conglomerate, the Shaikhani Group. Strategically positioned to leverage the healthy market prices the developer is expediting construction on its on-going residential projects, which consist of luxury buildings collectively valued at AED 1.34 billion.

Encouraged by the relatively lower costs of construction, the developer further reiterated its commitment to ensure timely delivery of its residential developments, which include the ‘Frankfurt Sports Tower’ and the ‘Champions Tower’ series. As more banks inject liquidity into the mortgage market, Memon Investments is confident that its projects, which are located in several high profile master developments, is providing buyers a wide range of investment options that offers excellent return potential. Furthermore, the developer also revealed that it has already awarded important contracts to some of the UAE’s top contractors and MEP companies.

“Amidst reports that a major percentage of 100 off-plan projects in Dubai that were put on hold are now picking up where they left off, we are focusing on gaining an advantageous position as consumer confidence continues to grow,” said Ahmed Shaikhani, Managing Director, Memon Investments. “We continue to capitalise on our strategic partnerships and the uniqueness of our projects, as we work towards the prompt completion of our existing projects and the realisation of our vision of growth as one of the major developers in the region.”

Memon Investments announced that it has passed more than the halfway mark on the construction of two of its prime residential developments in ‘Dubai Sports City’ - ‘Champions Tower II’ (CT II) and ‘Champions Tower III’ (CT III). The developer also revealed the completion of the superstructure of the AED 80 million ‘Cambridge Business Centre’ (CBC) in Dubai Silicon Oasis, keeping the construction on track to be completed by the second quarter of 2011.

“Our strategy revolves around managing the construction progress in our projects and building-up the confidence of customers and investors. This, in addition to the improving situation in the UAE residential property market, is giving us the necessary leverage to maintain our robust operations in United Arab Emirates, and we are confident that the entire market is poised for an upward trend in the near future,” concluded Shaikhani.

About Memon Investments LLC
Founded as the property development arm of the international business conglomerate, the Memon Group of Companies, Memon Investments has grown to become a leading property player in the region offering a diversified portfolio of premium property projects. Guided by a tradition of excellence, the developer’s intense focus lies within its core competencies, specifically acquisition, design and development, consultancy, leasing and management of properties. Leveraging the Memon Group’s extensive real estate development experience, Memon Investments’ UAE portfolio comprises of prestigious residential projects including ‘Champions Towers I, II, III, and IV’ and ‘Frankfurt Sports Tower I’ in Dubai Sports City; ‘Gardenia I & II’ in Jumeirah Village, and its inaugural commercial venture - ‘Cambridge Business Centre’ in Dubai Silicon Oasis, all of which embody the developer’s trademark top-notch quality and uniqueness.

Having delivered over 30,000 units across the globe with a presence in 90 countries spread across Asia, Africa, Middle East and Europe, the Memon Group of Companies is presently commemorating its 30th year of delivering unique offerings and services to its global customers. In addition to its extensive expertise in the real estate market, the Group has also built a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development. As a socially-aware international corporation, the Group has devoted 19 years in support of the Rabia Charitable Foundation and the Rabia Relief Fund.

Memon Investments launches ‘show apartment’ at AED 145 million ‘Champions Towers III’ project

Memon Investments launches ‘show apartment’ at AED 145 million ‘Champions Towers III’ project

Leading property developer showcases fully - furnished model to give customers a look at project’s world class features and amenities


December 1, 2010

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, Shaikhani Group, has launched a model apartment at ‘Champions Towers III (CT III),’ a AED145 million high profile residential development project designed by leading design and engineering firm, Adnan Saffarini. The move is part of a strategic marketing initiative that aims to give existing buyers a realistic view of the apartment model. The leading property developer has prepared a fully furnished unit, complete with furniture, lighting fixtures, appliances and accessories; giving customers a look of the model apartment’s world class design, features, amenities and accompanying facilities. CT III is part of the company’s AED1.34 billion portfolio mainly consisting of high profile residential projects that include ‘Frankfurt Sports Towers’ and the ‘Champions Tower’ series (CT I, CT II, CT III and CT IV).

The model unit currently displays furniture from well known, furniture and home accessories brand to give customers a feel of the apartment’s spacious and airy design. The apartments have been designed to match today’s fast paced lifestyle, which is a lively mix of key luxuries as well as adorned conveniences. The ‘show apartment’ also aims to highlight CT III’s key offerings like spacious interiors, fine marble lobby, three high-speed elevators, basement and ground covered floor parking, concierge and valet services, health and wellness facilities, 24-hour manned security and an in-house maintenance team. The 15-storey tower stands on a total built-up area of 283,672 square feet with 254 units composed of studios, one bedroom and two bedroom apartments. The tower aims to promote a healthy lifestyle among its future residents with the availability of a juice bar, health club, swimming pool, gym, sauna and steam room.

“The opening of our new ‘show apartment’ is part of Memon Investment’s move to create a more interactive and customer centric marketing approach at highlighting the units of our ‘Champions Towers III’ project,” said Ahmed Shaikhani, Managing Director, Memon Investments. “Inviting our customers to come and see our model apartment allows us to provide them with a more realistic view of the apartment—furniture and interior wise, the facilities and amenities present and what to see and do within the gated community, which will help them in their decision to invest in a CT III apartment.”

The move to launch a ‘show apartment’ for CT III follows after the leading property developer’s recent reports that CT II and CT III are steadily approaching completion—the tower’s external structure fully completed with the continuing internal work and block work expected to meet its scheduled deadline. CT III also boasts of its excellent location that is both premium and serene--where residents have easy access to world class stadiums, academies, educational, religious and healthcare facilities, restaurants, cafés and a sports themed mall that have all been built within Dubai Sport City’s gated community. The rapid pace of construction and development underlines Memon Investment’s commitment to finishing the project in time; turning over the keys to CT III’s first occupants on the third or fourth quarter of 2011.

“Memon Investments remains steadfast in its commitment to provide our customers with a luxury lifestyle that embodies the elements of comfortable living, access to world-class facilities and amenities and the confidence of living in a safe and secure community. We are confident that our key development projects like Champions Towers I, II and III will be able to meet our client’s expectations and requirements—even surpassing them with the promise of the best services and facilities that a world class developer like us can offer,” concluded Shaikhani.


About Memon Investments LLC
Founded as the property development arm of the international business conglomerate, the Memon Group of Companies, Memon Investments has grown to become a leading property player in the region offering a diversified portfolio of premium property projects. Guided by a tradition of excellence, the developer’s intense focus lies within its core competencies, specifically acquisition, design and development, consultancy, leasing and management of properties. Leveraging the Memon Group’s extensive real estate development experience, Memon Investments’ UAE portfolio comprises of prestigious residential projects including ‘Champions Towers I, II, III, and IV’ and ‘Frankfurt Sports Tower I’ in Dubai Sports City; ‘Gardenia I & II’ in Jumeirah Village, and its inaugural commercial venture - ‘Cambridge Business Centre’ in Dubai Silicon Oasis, all of which embody the developer’s trademark top-notch quality and uniqueness.

Having delivered over 30,000 units across the globe with a presence in 90 countries spread across Asia, Africa, Middle East and Europe, the Memon Group of Companies is presently commemorating its 30th year of delivering unique offerings and services to its global customers. In addition to its extensive expertise in the real estate market, the Group has also built a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development. As a socially-aware international corporation, the Group has devoted 19 years in support of the Rabia Charitable Foundation and the Rabia Relief Fund.

Memon Investments continues construction of current projects amidst reports showing 38 per cent of all UAE projects are currently inactive

Memon Investments continues construction of current projects amidst reports showing 38 per cent of all UAE projects are currently inactive

Leading developer stands firm on commitment to complete AED 1.34 billion worth of projects

September 26, 2010

Memon Investments, a leading Dubai based property developer and part of the multi-billion dollar international business conglomerate, the Shaikhani Group, has reported that construction activity on all of their current line of projects are still ongoing despite the global downturn which has affected the regional real estate sector. The announcement follows the recent release of a Proleads report that states that 38 per cent of the UAE’s construction and development projects are currently inactive. The country’s residential sector, which comprises of 682 projects valued at USD 306 billion, represents 62 per cent of construction projects in the UAE. Memon’s current portfolio, which is currently valued at AED 1.34 billion, consists of high profile residential development projects like the ‘Frankfurt Sports Tower’ and the ‘Champions Tower’ series.

According to a recent report released by UAE-based research firm Proleads Global, a total of 1,296 projects valued at more than USD 418 billion are currently being built in the UAE, with an additional 303 projects worth USD 143 billion already in the design, planning and or bidding stage. However, the report also stated that 38 percent of these projects have ceased construction and have become inactive as a result of the global financial crisis. As one of the very few developers to maintain continued construction activity, Memon Investments remains steadfast in its commitment to complete and deliver all of its projects through the support of satisfied customers. The developer is also confident that its current portfolio of projects will provide buyers a wide range of investment options that offer excellent return potential.

“Many promising construction projects in the UAE have ceased development and construction activity as a result of the global financial crisis, “ said Ahmed Shaikhani, Managing Director, Memon Investments. “Memon Investments is glad to report that it is continuously moving forward with all of its projects. Despite the recession, we have managed to stay afloat by adopting strategic initiatives and practices. Rest assured, we stand firm on our promise to complete and deliver our projects in accordance with the expectations of our discerning clientele.”

Memon Investments recently announced that it has already crossed the halfway mark for ‘Champions Tower II’ (CT II) and ‘Champions Tower III’ (CT III), two of its prime residential projects located in Dubai Sports City. Construction has reached the 9th floor in CT II, with the developer preparing for the next slab and block work has also been done till 6th floor; while the 10th floor in CT III has already been cast. Leading MEP contractor Anwar Al Aqsa has been awarded the contract to manage the electrical, plumbing, fire alarm and fire fighting installations, while ETA MELCO has been commissioned to install six high-speed, state-of-the-art Mitsubishi elevator units for both towers. As construction progresses rapidly, the developer is currently looking to award contracts related to the finishing and facility management to credible partners in the UAE.

“We are very pleased to share that both of our Champions Tower projects have already crossed the halfway mark and we expect to complete both projects fairly soon. Awarding various contracts to some of the UAE’s leading contractors and MEP companies has largely contributed to the fast-paced construction of both towers. Similarly, implementing a sound project management plan has played an important role in our efforts to maintain continued construction activity. Our strong commitment towards customer satisfaction continues to provide us with the confidence and inspiration to finish all of our projects scheduled deadlines”, concluded Shaikhani.

About Memon Investments LLC
Founded as the property development arm of the international business conglomerate, the Memon Group of Companies, Memon Investments has grown to become a leading property player in the region offering a diversified portfolio of premium property projects. Guided by a tradition of excellence, the developer’s intense focus lies within its core competencies, specifically acquisition, design and development, consultancy, leasing and management of properties. Leveraging the Memon Group’s extensive real estate development experience, Memon Investments’ UAE portfolio comprises of prestigious residential projects including ‘Champions Towers I, II, III, and IV’ and ‘Frankfurt Sports Tower I’ in Dubai Sports City; ‘Gardenia I & II’ in Jumeirah Village, and its inaugural commercial venture - ‘Cambridge Business Centre’ in Dubai Silicon Oasis, all of which embody the developer’s trademark top-notch quality and uniqueness.

Having delivered over 30,000 units across the globe with a presence in 90 countries spread across Asia, Africa, Middle East and Europe, the Memon Group of Companies is presently commemorating its 30th year of delivering unique offerings and services to its global customers. In addition to its extensive expertise in the real estate market, the Group has also built a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development. As a socially-aware international corporation, the Group has devoted 19 years in support of the Rabia Charitable Foundation and the Rabia Relief Fund.

Memon Investments passes halfway mark on ‘Champions Tower II’ and ‘Champions Tower III’

Memon Investments passes halfway mark on ‘Champions Tower II’ and ‘Champions Tower III’

Developer pushes on with construction despite global economic downturn

May 16, 2010

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, Shaikhani Group, announced that it has passed the halfway mark on the construction of two of its prime residential developments in ‘Dubai Sports City’ - ‘Champions Tower II’ (CT II) and ‘Champions Tower III’ (CT III). Construction has reached the 9th floor in CT II, with the developer preparing for the next slab and block work on the 4th floor; while the 10th floor in CT III has already been cast. Amidst the progress, Memon Investments aims to underline its commitment to push on with construction despite the challenges of the global economic downturn.

The awarding of various contracts to some of the UAE’s top contractors has contributed to the fast-paced construction of both towers, with Stromek Emirates Foundation having completed the initial excavation and foundation work and Al Sarh Contracting placed in charge of construction. Leading MEP contractor Anwar Al Aqsa is managing the electrical, fire alarm, plumbing and fire fighting instalments, while ETA MELCO has been commissioned to install six high-speed, state-of-the-art Mitsubishi elevator units for ‘CT II’ and ‘CT III’. As construction progresses rapidly, the developer is currently looking to award contracts related to the finishing and facility management to credible partners in the UAE.

“Our unwavering commitment to deliver these two unique towers and to do so with a guarantee of excellent quality is paying off with the exceptional speed and standards by which ‘Champions Tower II’ and ‘Champions Tower III’ are being constructed,” said Ahmed Shaikhani, Managing Director, Memon Investments. “We are very excited to approach the construction of the last levels of these projects, and eventually the handover of units to our investors, which is a major milestone in our operations as a developer of high value projects.”

With a total built-up area of 231,454 square feet, ‘Champions Tower II’ is a 14-storey tower, which will include 172 apartments comprising 72 studios, 72 one-bedroom and 28 two-bedroom apartments, each with its own view of Dubai Sports City’s lush greenery. The tower will provide easy access to an 18-hole golf course, a cricket stadium and various sport-oriented academies, rugby and football pitches and a track and field stadium. The tower will also offer modern facilities including a communal swimming pool, spa and sauna, Jacuzzi, a fully equipped gymnasium and an indoor games room.

‘Champions Tower III’ is a B+G+15+HC tower with a total built-up area of 283,672 square feet, and will offer a total of 254 units comprising of studios, one-bedroom and two-bedroom apartments. Its features include a spacious fine marble lobby, three high-speed elevators, basement parking, ground floor covered parking, concierge and valet parking services, 24-hour manned security and an in-house maintenance team. World-class stadiums and academies, educational, religious and healthcare facilities, as well as high-class restaurants and cafés and a sports-themed shopping mall in the gated community are all within walking distance from the luxurious residential property.

“These projects are in line with our vision and strategy to provide the ultimate luxury lifestyle to discerning investors. With the inclusion of the most sophisticated amenities and conveniences in these towers, we are confident that all our clients’ expectations will be met, if not surpassed,” concluded Shaikhani.


About Memon Investments LLC
Founded as the property development arm of the international business conglomerate, the Memon Group of Companies, Memon Investments has grown to become a leading property player in the region offering a diversified portfolio of premium property projects. Guided by a tradition of excellence, the developer’s intense focus lies within its core competencies, specifically acquisition, design and development, consultancy, leasing and management of properties. Leveraging the Memon Group’s extensive real estate development experience, Memon Investments’ UAE portfolio comprises of prestigious residential projects including ‘Champions Towers I, II, III, and IV’ and ‘Frankfurt Sports Tower I’ in Dubai Sports City; ‘Gardenia I & II’ in Jumeirah Village, and its inaugural commercial venture - ‘Cambridge Business Centre’ in Dubai Silicon Oasis, all of which embody the developer’s trademark top-notch quality and uniqueness.

Having delivered over 30,000 units across the globe with a presence in 90 countries spread across Asia, Africa, Middle East and Europe, the Memon Group of Companies is presently commemorating its 30th year of delivering unique offerings and services to its global customers. In addition to its extensive expertise in the real estate market, the Group has also built a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development. As a socially-aware international corporation, the Group has devoted 19 years in support of the Rabia Charitable Foundation and the Rabia Relief Fund.

Memon Investments completes superstructure of AED 80 million ‘Cambridge Business Centre’

Memon Investments completes superstructure of AED 80 million ‘Cambridge Business Centre’

Major commercial tower in ‘Dubai Silicon Oasis’ on track for delivery

April 26, 2010

Memon Investments, a leading Dubai-based property developer and part of the multibillion dollar international business conglomerate, the Shaikhani Group, announced that it has completed the construction of the superstructure of the AED 80 million ‘Cambridge Business Centre’ (CBC). Company officials stated that construction of all 10 floors of its inaugural commercial venture, located in Dubai Silicon Oasis (DSO), have been complete in line with plans to deliver the tower by the second quarter of 2011.

Following the completion of majority of the block works, Cairo Contracting Company, the main contract for the business tower is currently proceeding with the internal plaster and tile work. In addition, Memon’s partnership with several leading construction partners, including Stromek Emirates Foundation (shoring), WIN GATE Electromechanical Services (MEP), HI-TECH Electro Mechanical Contracting (air conditioning), and Shanghai & Arabian Electromechanical (elevators), has contributed to its fast-tracked progress. Furthermore, the rapid development of the project is being mirrored by the master developer’s aggressive work on DSO’s infrastructure.

“As we inch closer to the delivery of this unique commercial tower, we remain committed to our promise to our investors of a commercial space that will incorporate all the amenities to provide their business with the necessary edge and help them become more competitive and accessible to their customers,” said Ahmed Shaikhani, Managing Director, Memon Investments. “We have the highest confidence that ‘Cambridge Business Centre’ will be one of the most important addresses for both start-up companies seeking to establish new operations in the UAE and major players undergoing expansion.”

CBC will provide small, medium and large offices with a thematic design based on classic British architecture and fully equipped with technologically advanced facilities such as Wi-Fi technology, keyless entry and hi-speed internet connection. The development will also house retail shops on the ground floor, banking facilities and a travel agency, in addition to amenities for rest and relaxation such as a fully-serviced health club at the rooftop. Upon delivery, the 10-storey tower will offer a total built-up area of 160,000 square feet.

“We have designed CBC to offer the most sophisticated technologies, which will make business more convenient and efficient for commercial tenants. We are excited to finally hand over the units to our clients, who will certainly be able to immediately tell the difference of CBC in terms of facilities, accessibility and overall prestige,” concluded Shaikhani.

About Memon Investments LLC
Founded as the property development arm of the international business conglomerate, the Memon Group of Companies, Memon Investments has grown to become a leading property player in the region offering a diversified portfolio of premium property projects. Guided by a tradition of excellence, the developer’s intense focus lies within its core competencies, specifically acquisition, design and development, consultancy, leasing and management of properties. Leveraging the Memon Group’s extensive real estate development experience, Memon Investments’ UAE portfolio comprises of prestigious residential projects including ‘Champions Towers I, II, III, and IV’ and ‘Frankfurt Sports Tower I’ in Dubai Sports City; ‘Gardenia I & II’ in Jumeirah Village, and its inaugural commercial venture - ‘Cambridge Business Centre’ in Dubai Silicon Oasis, all of which embody the developer’s trademark top-notch quality and uniqueness.

Having delivered over 30,000 units across the globe with a presence in 90 countries spread across Asia, Africa, Middle East and Europe, the Memon Group of Companies is presently commemorating its 30th year of delivering unique offerings and services to its global customers. In addition to its extensive expertise in the real estate market, the Group has also built a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development. As a socially-aware international corporation, the Group has devoted 19 years in support of the Rabia Charitable Foundation and the Rabia Relief Fund.

Memon Group unveils new brand identity ‘Shaikhani Group’

Memon Group unveils new brand identity ‘Shaikhani Group’

Leading conglomerate eyes 10 to 15 per cent growth in 2010

January 24, 2010

Memon Group of Companies, a multibillion dollar international business conglomerate with interests in real estate development, trading, manufacturing and IT, has unveiled its new brand identity - ‘Shaikhani Group’. Chairman Abu Baker Shaikhani has revealed that the move is in line with the Group’s new strategy for growth in the region, which involves undertaking of new projects and collaboration with leading industry partners. He further revealed that the Group aims to achieve a 10 to 15 per cent growth in 2010 and further expand its project portfolio.

The rebranding is also part of the Group’s efforts to build a closer association with its founding family - the Shaikhani’s, which the company believes will further strengthen its brand identity. All existing business under the Group’s former identity, which includes Memon Investments, Memon Real Estate Brokers Dubai, Rubber World Industries LLC, Gulf-O-Flex Trading LLC, Memon Developers UK Limited and Memon Real Estate Pakistan, are also slated to operate under the Shaikhani Group banner. The Group is further planning to diversify into the hospitality, medical, retail and education sectors in the near future.

“We are pleased to announce our new corporate name - ‘Shaikhani Group’, which represents our evolving strategy to further leverage the property, construction, manufacturing and trading sectors in the region as it undergoes an exemplary recovery phase,” said Abu Baker Shaikhani. “We needed to develop a brand identity that has a universal appeal and is in line with the personality and interests of our Group, to maximise our legacy spanning over three decades. The challenge in the current economic climate is to ensure that the message regarding the development cuts through to customers, partners, investors and end-users, and generates significant interests among them”.

Prior to the unveiling of the new brand identity, the Memon Group has delivered over 30,000 units across the globe, and maintained relevant presence in 90 countries spread across Asia, Africa, Middle East and Europe. Its property development arm - Memon Investments has a UAE portfolio comprising of prestigious projects, including ‘Champions Towers I, II, III, and IV’ and ‘Frankfurt Sports Tower I’ in Dubai Sports City; ‘Gardenia I & II’ in Jumeirah Village, and ‘Cambridge Business Centre’ in Dubai Silicon Oasis, all of which embody the developer’s trademark top-notch quality and uniqueness. The Group also boasts of extensive expertise in the real estate market, and a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development.


About Memon Group:

Having delivered over 30,000 units across the globe with a presence in 90 countries spread across Asia, Africa, Middle East and Europe, the Memon Group of Companies is presently commemorating three decades of delivering unique offerings and services to its global customers. In addition to its extensive expertise in the real estate market, the Group has also built a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development. As a socially-aware international corporation, the Group has devoted over 19 years in support of the Rabia Charitable Foundation and the Rabia Relief Fund.

About Memon Investments LLC

Founded as the property development arm of the international business conglomerate, the Memon Group of Companies, Memon Investments has grown to become a leading property player in the region offering a diversified portfolio of premium property projects. Guided by a tradition of excellence, the developer’s intense focus lies within its core competencies, specifically acquisition, design and development, consultancy, leasing and management of properties. Leveraging the Memon Group’s extensive real estate development experience, Memon Investments’ UAE portfolio comprises of prestigious residential projects including ‘Champions Towers I, II, III, and IV’ and ‘Frankfurt Sports Tower I’ in Dubai Sports City; ‘Gardenia I & II’ in Jumeirah Village, and its inaugural commercial venture - ‘Cambridge Business Centre’ in Dubai Silicon Oasis, all of which embody the developer’s trademark top-notch quality and uniqueness.

Memon Investments’ AED 255 million ‘Champions Towers II’ and ‘Champions Towers III’ witness continuous construction progress

Memon Investments’ AED 255 million ‘Champions Towers II’ and ‘Champions Towers III’ witness continuous construction progress

Leading property developer confident to deliver projects on time

December 8, 2009

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, Memon Group of Companies, has reported that construction on its ‘Champions Towers II’ (CT II) and ‘Champions Towers III’ (CT III) projects is witnessing continuous progress. The leading property developer reported that it has already completed 6 out of 14 floors and 5 out of 16 floors for CT II and CT III respectively. The timely pace of the project’s construction and development complements Memon Investment’s assurance of delivering the projects on time.

Memon has also detailed the awarding of various important contracts to some of the UAE’s top contractors and MEP companies. Anwar Al Aqsa, a leading MEP contractor, will manage the electrical, fire alarm, plumbing and fire fighting installments for the two towers. The installation of elevators for CT II and III has been awarded to ETA MELCO, who will be installing six high-speed, state-of-the-art Mitsubishi units, whilst shoring, initial excavation and foundation work has been undertaken by Stromek Emirates Foundation. Further, Al Sarh Contracting has been placed in charge of construction for both CT II and CT III. In addition, HI TECH Electro Mechanical Contracting Est. has also been awarded the contract to install YORK air conditioning units for the CT II project.

Rizwan Shaikhani, Joint Managing Director, Memon Investments, said, “Various construction projects in the UAE have reported delays and difficulties as a result of being affected by the current economic downturn. However, Memon Investments remains committed to its promise of on-time project delivery. Our efforts to partner with some of the country’s leading contractors, suppliers and MEP companies have allowed us to keep our projects running at an impressive pace, giving us the confidence to assure our clients that both CT II and CT III will be delivered on time.”

Champions Tower II is a 14-storey tower with a total built-up area of 231,454 square feet, which will include 172 apartments comprising 72 studios, 72 one-bedroom and 28 two-bedroom apartments, each with its own magnificent view of the lush greenery exuding a relaxing ambience. The tower provides easy access to an 18-hole golf course, a cricket stadium and various sport-oriented academies, rugby and football pitches and a track and field stadium. As the culmination of the sophisticated combination of luxury and high technology living set amidst a sports-oriented environment, the tower also offers a handful of modern facilities including a communal swimming pool, spa and sauna, Jacuzzi, a fully equipped gymnasium and an indoor games room.

Champions Tower III is a B+G+15+HC tower with a total built-up area of 283,672 square feet, and offers a total of 254 elegant units comprising of studios, one-bedroom and two-bedroom apartments. CT III features include a spacious fine marble lobby, three high-speed elevators, basement parking, ground floor covered parking, concierge and valet parking services, 24-hour manned security and an in-house maintenance team. World-class stadiums and academies, educational, religious and healthcare facilities, as well as posh restaurants and cafés and a sports-themed shopping mall in the gated community are all at walking distance from the luxurious residential property.

“CT II and CT III reflect Memon Investment’s vision to provide property development projects that suit the lifestyle of our target market while consequently allowing us to deliver investment opportunities that yield in high significant returns. Moreover, Memon Investments continues to remain steadfast in its role as prime developer of iconic development projects, clearly redefining the UAE’s real estate sector and helping in its drive for economic progress,” concluded Shaikhani.

Memon Investments completes 9 out of 10 floors of AED 80 million ‘Cambridge Business Centre’

Memon Investments completes 9 out of 10 floors of AED 80 million ‘Cambridge Business Centre’

Prime commercial tower in Dubai Silicon Oasis moving towards delivery

November 15, 2009

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, announced that it has completed nine out of the ten floors within ‘Cambridge Business Centre’ (CBC) project, its inaugural commercial venture located in Dubai Silicon Oasis. The continuous construction works on the AED 80 million tower is leading up to its expected timely delivery.

With a total built-up area of 160,000 sq. ft., CBC is the first project in the region comprised of 10 floors that are all dedicated to commercial space. Memon Investments has partnered with several leading construction partners for this project, with Cairo Contracting Company bagging the main contract for the business tower; WIN GATE Electromechanical Services providing top-quality materials and delivering complete electrical, plumbing, drainage, fire fighting and fire alarm works; and Stromek Emirates Foundation, which is in charge of shoring and excavation works. Further, HI-TECH Electro Mechanical Contracting Est. and Shanghai & Arabian Electromechanical LLC, are also part of this massive project, installing YORK air-conditioners and three high-speed elevators, respectively.

“Our initial venture in commercial property development is shaping up to be another success for Memon Investments, cementing our repute as a dynamic construction organisation,” said Rizwan Shaikhani, Joint Managing Director, Memon Investments. “Construction of CBC is progressing rapidly, and we are now preparing for the hand-over of the offices to our investors. We are proud to be close to delivering this project despite the drawbacks of the current recessionary period, which attests to our capacity and commitment to honour the promise we made to our investors.”

Inspired by classic British architecture, CBC will offer small, medium and large offices that are fully equipped with technologically advanced facilities such as Wi-Fi technology, keyless entry and hi-speed internet connection. Commercial tenants can also enjoy from the host of services and facilities, which will be available within the tower. In addition to state-of-the-art offices, the development will also house retail shops on the ground floor, banking facilities and a travel agency, in addition to amenities for rest and relaxation such as a fully-serviced health club at the rooftop.

“We are looking forward to welcoming the first batch of businesses to make CBC the base of their operations. Its strategic location and high-technology facilities will make their business more accessible to their customers. We are counting down to the day when we will open CBC’s doors to the new owners, after which our focus will shift to ensuring that this development will continue to remain an efficient business hub,” concluded Shaikhani

45 per cent of projects planned in the Gulf currently under construction in UAE

45 per cent of projects planned in the Gulf currently under construction in UAE

Dubai-based developer Memon Investments reiterates support to UAE’s construction leadership

August 23, 2009

Forty-five per cent of projects planned in the Gulf, which have a total value of USD 930 billion, are currently under construction in the UAE, according to recently published reports, thereby asserting the country’s leading position in terms of developments and project activity in the region. Forming part of the massive bulk of construction projects in the UAE is the AED 1.34 billion project portfolio of Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies. Among the projects under this billion-dirham portfolio are high profile developments within the UAE’s most sought-after communities, including luxury residential projects 'Champions Towers' series, 'Gardenia I & II’, and ‘Frankfurt Sports Tower I’; as well as its inaugural commercial tower - 'Cambridge Business Centre' (CBC).

The study further revealed that despite the economic slowdown, the value of property construction is four times higher than what had been estimated in June 2005 and represents an annual growth rate of nearly 50 per cent. In addition, some 81 per cent of the UAE projects are in the construction sector, which indicate that the country has overtaken all GCC states in terms of total value of projects. Amidst ongoing prospects within the construction industry, which is witnessing early signs of recovery, Memon Investments is committed to the ongoing construction of its projects, encouraged by the relatively lower costs of construction, in an attempt to ensure timely delivery and customer satisfaction.

“The strong standing of the UAE in the construction market is an indicator of the capacity of developers of locally-based projects to proceed with the construction of launched projects amidst the challenges presented by the economic slump,” said Ahmed Shaikhani, Managing Director, Memon Investments. “As one of the leading players in the Dubai property market, we leverage our extensive industry expertise and strong financial backing, thereby enabling us to proceed with unhindered construction works on our flagship projects.”

Construction on the four towers under the ‘Champions Tower’ (CT) banner are progressing at an impressive pace, with various important contracts already been awarded to a number of top contractors, including leading MEP companies as well as companies that specialise in elevator and air-conditioner installation. Moreover, construction of eight of the 10 floors within CBC has been completed, with initial steps already being made in preparation for the scheduled handover of the project to investors by the fourth quarter of 2009. The company also previously announced that it is fast-tracking the construction of ‘Gardenia I & II’ and ‘Frankfurt Sports Tower I’, in line with aims to hits their respective delivery deadlines.

“The outstanding progress we have recorded across all our projects is the result of our strong collaboration with industry-leading partners, and our own initiative to expand our core competencies. Now, despite the challenges of the current economic slump, we are looking forward to the completion and handover of all our projects, as we gear up to take on more challenging developments that will satisfy the demands of our highly-discerning clientele,” concluded Shaikhani.

Property prices in Jumeirah Village climb by up to 30 per cent since January ‘09

Property prices in Jumeirah Village climb by up to 30 per cent since January ‘09

Memon Investments’ ‘Gardenia I & II’ project offers high-value units within Jumeirah Village community development

July 26, 2009

Property prices in Jumeirah Village have climbed by 5 to 30 per cent from their low levels in January this year, according to recent reports, signifying an early recovery for the Dubai property market, which has witnessed a nine-month period of decline. Driven by its commitment to offering high-value units within the Dubai’s most luxurious community developments, Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, is fast-tracking the construction of ‘Gardenia I & II’ - a project strategically located in Jumeirah Village. Master developed by Nakheel, Jumeirah Village is set to provide authentic Mediterranean-inspired residential, commercial and retail space.

According to recent reports, the 811-hectare integrated master community has not been impacted to the same degree as the large number of residential properties in various locations across Dubai, and thereby presents a more profitable investment option for property purchasers today. Consequently, an increasing number of investors are reportedly looking at Jumeirah Village for a more solid investment opportunity with a lower risk percentage. As one of the first to develop within the Jumeirah Village development, Memon Investments has reported increased demand and inquiries for its ‘Gardenia I & II’ project.

“Our capacity to identify the best master developments to build our projects in, not only in terms of facilities and prestige but more importantly in their potential to provide excellent investment returns, is the foundation of our strength as a developer,” said Ahmed Shaikhani, Managing Director, Memon Investments. “We take pride in bringing to customers a variety of property units that address their requirements in luxury and style; however, we believe that we have also proven ourselves as an organisation that is dedicated to fulfill our promises to our clients amidst the rise of difficult challenges.”

Located near the Cultural Centre and the renowned Central Park, Memon Investments’ 5-storey residential development will incorporate studios, one and two-bedroom units; lavish townhouses and loft apartments, with retail units on the ground floor. Based on the vision of Dimensions Engineering Consultants (DEC), it was splendidly designed with stuccoed walls, tiled roofs, rustic arches, solid wrought iron balcony grills, carved doors, ornamental spiral columns, marble flooring and thematic and floral patterns. Two leading suppliers and contractors are also collaborating for the project, including the International Foundation Group (IFG), who is undertaking the AED 2.4 million shoring and excavation contract; and Shanghai & Arabian Electromechanical LLC (SAE), who will install high-speed elevators within the towers.

“The first of our projects in the ‘Gardenia’ series remains one of the most-awaited developments in Jumeirah Village, and we would like to reiterate that we are consistently up to the challenge of satisfying the ever-discerning tastes of our target market. We are proud of how long we have achieved in the construction process of this excellent development, which is due to our collaboration with some of the best construction partners in the region,” concluded Shaikhani.

Memon Investments awards AED 84.5 million contract for ‘Champions Tower IV’

Memon Investments awards AED 84.5 million contract for ‘Champions Tower IV’

Al Jassmy Contracting Co. to complete AED 450 million project within 22 months

July 6, 2009

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, has awarded an AED 84.5 million contract to Al Jassmy Contracting Co. LLC for the construction of the ‘Champions Tower IV’, a 20-storey residential tower worth AED 450 million in Dubai Sports City. The announcement follows the commencement of the tower’s Raft works, with the main contractor committing to complete the project within a period of 22 months.

The agreement was signed by Rizwan Shaikhani, Joint Managing Director, Memon Investments; and Momen Yousuf Al Jassmy, Deputy Managing Director, Al Jassmy Contracting Co. LLC. Prior to the awarding of the main contract, the developer has awarded an AED 1.8 million contract to Stromek Emirates Foundation to undertake the shoring and excavation, while ETA MELCO has been chosen to install high-speed elevator within the tower.

“Our primary aim is to maintain a consistently high level of quality and to make this the standard for all our subsequent projects,” said Rizwan Shaikhani. “In line with this goal, we have made it part of our strategy to partner with credible and trustworthy industry leaders to lend us their expertise and help us achieve the targets we have set for our projects. For ‘Champions Tower IV’ we have assembled a formidable team of engineers and project managers who will be working hand in hand to provide our customers the quality and convenience we have committed to them.”

Established in 1968, Al Jassmy Contracting Co. LLC has undertaken multi-million projects in the region, some of which are for various government sectors. It has established a strong repute with the construction industry, having worked on several high profile commercial and residential projects as well as majestic mosques. Projects are professionally managed by its qualified engineers, foremen and supervisors, who have earned an average of 40 years of expertise in the field. The company also boasts of a pool of manpower with the appropriate skill set and strong commitment and dedication towards excellence.

“Achieving highest quality standard throughout our clients’ satisfaction is our mission, and our partnership with Memon Investments has opened up an enormous opportunity for us to impart our industry expertise and become a part of a prestigious and much-anticipated project. We are confident that through our highly systematic processes and our close collaboration with Memon Investments we will be able to hit the deadline set for this project while satisfying all the quality benchmarks that are expected from projects of this calibre,” concluded Momen Yousuf Al Jassmy.

Designed by Eng. Adnan Saffarini Office, ‘Champions Tower IV’ will house 266 units comprising of 114 studios, 133 one-bedroom and 19 two-bedroom apartments. The freehold residential tower will incorporate golf course, garden and canal views, a state-of-the-art surveillance and intercom system, basement parking, covered parking on the ground floor, 24-hour manned security and in-house maintenance, mood lighting, four high-speed elevators and valet parking services. In addition, the tower will also offer luxurious amenities including a majestic marble lobby, a rooftop health club, communal swimming pool, party hall, outdoor terrace, rooftop juice bar, spa, steam, sauna, Jacuzzi, separate fitness gyms for men and women, concierge desk and a health club lounge.

Memon Investments on track with construction of all projects within its AED 1.34 billion portfolio

Memon Investments on track with construction of all projects within its AED 1.34 billion portfolio

Developer asserts commitment to delivery despite delays and cancellations of 48 real estate projects in UAE

June 14, 2009

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, announced that it is on track with the construction of all its projects in Dubai, which are collectively valued at AED 1.34 billion. The developer is asserting its commitment to delivery despite the massive delays and cancellations of 48 real estate projects in the UAE. The report, which was released by REIDIN.com, the world’s first and leading global online information services provider, also revealed that majority of the troubled projects are high-end residential and commercial developments, as the drop in sales and strict financing have forced developers to reconsider their project’s viability.

According to the same report, there are 37 projects in the UAE that are currently on hold, with 11 projects marked as completely cancelled. Underlining its capacity to proceed with the construction of all its launched projects given its strong financial standing, Memon Investments has pointed to the first development within its ‘Champions Tower’ series, and the ‘Cambridge Business Centre’ which is expected for delivery by the end of 2009. Having strictly adhered to the Escrow Law and registered with the Real Estate Regulatory Agency (RERA), the developer is expecting a boost in investor confidence as a result of its efforts to ensure security for their investments.

“The global recession has created an astounding backlash to the regional real estate sector that has even the largest real estate players in the region reeling from its blows,” said Ahmed Shaikhani, Managing Director, Memon Investments. “We are proud to be still standing strong amidst the downward momentum that is sweeping the regional real estate market, and we believe that this has been the result of our unwavering commitment to meeting our clients’ needs, combined with our strong fundamentals and financial backing. We are confident that the current economic conditions will have little effect on the construction of our projects.”

Memon Investments has launched a total of five projects in Dubai Sports City, including four towers within the ‘Champions Tower’ series and ‘Frankfurt Sports Tower I’, in addition to 'Gardenia I & II’ in Jumeirah Village, and 'Cambridge Business Centre' in Dubai Silicon Oasis. In line with the reported decline in the construction cost per square foot within the UAE since the onset of the economic crisis, the developer has committed to further strengthening its partnership with leading construction companies.

“The challenges posed by the current economic crisis are true tests to the commitment of organisations to delivering their promises and to their resolve to overcome difficult situations. As an established player in the real estate realm, we have taken the necessary adjustments to combat the repercussions of the crisis, which we believe can be further countered with a continuous stream of positive measures spearheaded by the UAE Government. Through the combined efforts of the government and the industry, I have high hopes that we will be able to weather the challenges brought by the current slump in the market,” concluded Shaikhani.

Early adoption of sustainability technologies in construction lessens cost impact of LEED credits

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Early adoption of sustainability technologies in construction lessens cost impact of LEED credits

Memon Investments stands firm in commitment to adhere to Dubai ‘green building code’ across future projects

May 26, 2009

The adoption of sustainability technologies early on in the construction process has proven to lessen the cost impact of achieving a holistically sustainable design and satisfactory Leadership in Energy and Environmental Design (LEED) rating, according to recently conducted industry estimates. In line with this, Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, revealed its firm commitment to adhere to Dubai’s ‘green building code’ from the primary stages of construction of its five new projects within Jumeirah Village (JV), which are collectively valued at over AED 1.3 billon.

According to the same analysis, the on-cost for the buildings to achieve ‘LEED Gold’ ranges from an additional 1 per cent to 3 per cent depending on the building type; however, if sustainable design is integrated into the project from the start, additional on-costs for sustainability can be lowered. Furthermore, the costs for achieving ‘LEED Gold’ for buildings that did not benefit from early integration would be between 9 and 19 per cent more than standard. In line with its aims to ensure the success of its environmental initiative, Memon Investments has recently partnered with the Middle East Centre for Sustainable Development (MECSD), who will be responsible for the implementation of sustainable development and ‘green technologies’ for its projects in Jumeirah Village.

“Our efforts to adopt and implement ‘green’ initiatives are part of our commitment to give back to our customers for their unwavering support for all our projects,” said Ahmed Shaikhani, Managing Director, Memon Investments. “By taking these steps, we are increasing the potential of our projects to yield higher investment returns while effectively reducing ecological footprint, which is one of the common offshoots of rapid advancement of developing economies such as Dubai.”

‘Gardenia I & II’, an AED 150 million project located in Jumeirah Village, is the latest project launched by Memon Investments, and among its five developments to undergo ‘green building’ processes to achieve LEED Gold rating. Marking the developer’s initial foray into Jumeirah Village, the luxurious residential development features a total of 170 residential apartments. Designed by Dimensions Engineering Consultants (DEC) to offer residents Mediterranean-inspired units, the project has an escrow account with the Commercial Bank of Dubai in compliance with the requirements of the Real Estate Regulatory Agency (RERA) and the Dubai Land Department (DLD).

“During a period when merely designing and constructing sustainable designed buildings is not enough; we at Memon Investments believe that it is also vital to ensure that the operation of the facility after occupancy is done in line with ‘green building’ concepts. Consequently, we have strategic and outlined plans to implement water and energy efficiency initiatives across all our projects to gain actual results and sustain the success of our efforts for the benefit of both our customers and the environment,” concluded Shaikhani.

Memon Investments awards AED 19.5 million MEP contract to Anwar Al Aqsa

Memon Investments awards AED 19.5 million MEP contract to Anwar Al Aqsa

Leading contractor to manage electrical, plumbing, fire fighting works within two projects in Dubai Sports City

May 04, 2009

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, announced that it has awarded an AED 19.5 million MEP contract to Anwar Al Aqsa, a leading UAE-based company. The leading MEP contractor will manage the electrical, fire alarm, plumbing, and fire fighting works within Memon Investments’ ‘Champions Tower II’ and ‘Champions Tower III’ projects, located in Dubai Sports City. With construction progressing on the two towers, which are collectively valued at AED 255 million, the developer most recently awarded an AED 1.96 million elevator contract to ETA MELCO for the installation of six high-speed, state-of-the-art Mitsubishi elevators within the 14-storey Champions Tower II and the 16-storey Champions Tower III.

Memon Investments has revealed that its decision to award the contract to Anwar Al Aqsa was based on the company’s experience within the engineering, owner, vendor and trade contractor communities, which has enriched its capacity to provide the greatest value to a project. Specifically, the company will be utilising its expertise in HVAC systems installation, building electrical works, generator installation, interior and exterior plumbing, fire protection systems installation and exterior lighting for Memon Investments’ luxury residential developments. The contract with Anwar Al Aqsa follows previous deals with other top companies, including an AED 55.5 million deal with Al Sarh Contracting and an AED 82 million agreement with Cairo Contracting Company for the construction of Champions Tower II and Champions Tower III respectively.

“Our reputation within the UAE’s thriving property development sector has been built on the quality of our projects, which is the result of our close collaboration with leading companies that possess the necessary industry expertise and know-how of the latest industry technologies,” said Rizwan Shaikhani, Joint Managing Director, Memon Investments. “This strategy has enabled us to provide the highest level of convenience and state-of-the-art facilities to our clients. We have high confidence in the work Anwar Al Aqsa will be doing for Champions Towers II and III, which will play an integral role in the anticipated success of these two projects.”

Having worked with a wide variety of projects across the UAE - from villas to mid-rise buildings to high-rise towers - Anwar Al Aqsa has developed a distinctive quality in its workmanship and has impressed various local authorities, including the UAE Ministry of Electricity and Water, as well as a number of high profile developers. With offices in Dubai, Sharjah and Ajman, the company comprises of qualified electricians, plumbers and technicians who leverage its good infrastructure, material resources and equipment to execute major projects. Anwar Al Aqsa’s extensive expertise across various levels of MEP engineering, in addition to its operations involving the design, manufacturing and assembly of distribution boards, were key factors that helped the contractor clinch the deal.

“Memon Investments has a reputation for high quality developments, and we are proud to have been awarded this contract to work on two of their iconic projects. Ever since we commenced operations, we have been winning several high profile contracts, which underline our expertise and the superior quality of our services. With this latest contract from Memon Investments, we look forward to complementing their vision for excellence by adding value at every stage of our involvement,” concluded Eng. Isam Abdullah Edyak, Managing Director, Anwar Al Aqsa.

Memon Investments currently has a portfolio of projects valued at AED 1.34 billion, which includes the high profile residential 'Champions Towers' series, the luxurious ‘'Gardenia I & II’, ‘Frankfurt Sports Tower I’ and 'Cambridge Business Centre'. The Escrow accounts for all the projects are already in place with the Commercial Bank of Dubai, in compliance with the requirements of the Real Estate Regulatory Agency (RERA) and Dubai Land Department (DLD). Each of the towers will also combine sophisticated design and advantageous positioning, thereby underlining Memon Investments’ unwavering focus on delivering high ROI projects to regional and global investors.

Record pace of construction on AED 80 million ‘Cambridge Business Centre’

Record pace of construction on AED 80 million ‘Cambridge Business Centre’

Memon Investments prepares to handover project to investors by fourth quarter of 2009

April 20, 2009

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, has revealed that it is witnessing unprecedented construction progress on its AED 80 million ‘Cambridge Business Centre’ project in Dubai Silicon Oasis, despite the massive setback being faced by the UAE real estate and construction sectors. With construction of 3 of the 10 floors completed, initial steps are already being made in preparation for the scheduled handover of the project to the investors by the fourth quarter of 2009. The announcement is in line with the developer’s aims to build and deliver existing projects by leveraging its strong financial backing and partnerships with leading construction companies.

As Memon Investments’ first commercial project in the region, ‘Cambridge Business Centre’ is the collaboration of a dedicated team of industry professionals who were tapped to bring in their expertise and ensure that the project will be at par with global standards for luxury commercial developments. Cairo Contracting Company, which has been awarded the main contract for the business tower, is among the UAE-based companies spearheading the construction progress of the commercial tower. Other construction majors involved in the project include WIN GATE Electromechanical Services, Stromek Emirates Foundation, HI-TECH Electro Mechanical Contracting Est., and Shanghai & Arabian Electromechanical LLC.

“We are very proud to announce the exceptional progress we are seeing in the construction of our inaugural commercial tower, especially at a time when many construction projects are being delayed or cancelled as a result of the financial turmoil,” said Rizwan Shaikhani, Joint Managing Director, Memon Investments. “I believe that it is our strategy - one that involves strategic partnerships with leading construction organisations, as well as our fervent desire to satisfy the requirements of our customers - that is driving our success amidst these trying times.”

Set to feature classic British architecture across its small, medium and large offices, ‘Cambridge Business Centre’ will boast of advanced facilities such as Wi-Fi technology, keyless entry and hi-speed internet connection. Commercial tenants are expected to benefit from the host of services and facilities on offer within the tower, which is set to house retail shops on the ground floor, banking facilities and a travel agency, in addition to amenities for rest and relaxation such as a fully-serviced health club at the rooftop. The 10-storey tower will offer a total built-up area of 160,000 square feet upon its completion by the fourth quarter of 2009.

“Cambridge Business Centre marks the first commercial project we have launched and the success of this development is essential in our aims to build a strong repute within the UAE real state market. Our unwavering commitment to quality has brought us to our success in Dubai, and we are confident that this upward momentum will propel out growth within other promising destinations across the Emirates as well as the region,” concluded Shaikhani.

Ajman channels USD 375 million into infrastructure works and development in 2008

Ajman channels USD 375 million into infrastructure works and development in 2008

Memon Investments aims for growth and development by exploring new markets in the UAE

April 6, 2009

The Ajman Government has invested a total of USD 375 million in building roads and intersections, bridges, as well as maintenance and renovation of public facilities in 2008, according to recent reports. A review of past statistics also showed that this figure is almost triple the amount allocated for improving the infrastructure within the emirate in 2007, which was estimated at USD 136 million. Having built strong partnerships with the most prestigious master developers in Dubai, Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, revealed that it is currently eyeing high profile city developments in Ajman as locations for its upcoming projects.

In addition to the sizeable investments into developing its public works, the Ajman Government has also unveiled plans for an international airport to be built in the emirate's Al-Manama district. This effort is expected to have a significant effect on the tourism as well as business sectors in Ajman, which will in turn drive the need for built spaces to accommodate the influx of tourists and expatriates. In addition, the government has also recently introduced the Ajman Real Estate Regulatory Establishment (ARERA) to regulate the emirate's property and construction sector. Memon Investments has identified the demand for relatively affordable but high quality residential properties among middle-income end-users, prompting it to explore plans to undertake several projects for this segment within Ajman.

“We are focusing much of our resources in identifying viable locations for future projects, and our search has taken us to Ajman, whose development in the fronts of public infrastructure as well as real estate regulation is continually shaping the emirate to be the next important real estate destination in the region,” said Muzammil Shaikhani, Director, Memon Investments. “We applaud the initiatives taken by the Ajman Government to enhance the attractiveness of the emirate, and we are looking forward to developing our next projects in Ajman.”

To date, Memon Investments has launched a total of seven projects in the UAE, including four towers under the ‘Champions Tower’ banner, and ‘Frankfurt Sports Tower I’ in Dubai Sports City, in addition to 'Gardenia I & II’ in Jumeirah Village, and 'Cambridge Business Centre' in Dubai Silicon Oasis. Amidst the reported decline in the construction cost within the UAE since the onset of the economic crisis, the developer has also committed to further strengthening its partnership with leading construction companies, in line with its aims to hit the delivery of two of its projects - the AED 75 million ‘Champions Tower I’ and the AED 80 million ‘Cambridge Business Centre’ - by the end of 2009.

“In spite of the financial crisis sweeping across the globe, Ajman remains a potential-laden market given its stable economy and robust financial structure. The strategy that we will employ in our foray into this emirate will involve partnerships with leading construction companies, as well as with financial institutions to enable us to provide investors with flexible and extended payment plans. We are currently in the process of consolidating our expansion plans to Ajman, and we are looking forward to announcing further details of our plans very soon,” concluded Shaikhani.

Construction officially begins on Memon Investments’ AED 150 million ‘Gardenia I & II’ in Jumeirah Village

Construction officially begins on Memon Investments’ AED 150 million ‘Gardenia I & II’ in Jumeirah Village

Developer awards AED 2.4 million shoring and excavation contract to International Foundation Group

March 31, 2009

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, has kicked off the initial construction works on the AED 150 million ‘Gardenia I & II’ project, located in Jumeirah Village. The groundbreaking ceremony follows the developer’s decision to award an AED 2.4 million shoring and excavation contract to the International Foundation Group (IFG). The developer also announced that it has awarded an AED 520,000 elevator contract to Shanghai & Arabian Electromechanical LLC (SAE). Present during the event were top company officials, including Ahmed Shaikhani, Managing Director, and Rizwan Shaikhani, Joint Managing Director from Memon Investments; and Dr. Khalil Charif, Managing Partner, International Foundation Group.

Under the terms of the contract, IFG will commence foundation works involving shoring and piling excavation using their high rated piling systems, concrete diaphragm walls, excavation support and earth retention systems. The company has appointed a team of industry professionals comprising site managers, project engineers and supervisors to ensure that the completion of the first phase will proceed in accordance with the schedule set by the developer. The success of the project’s recent unveiling and the positive response it generated from potential clients has influenced the decision to proceed with construction.

“The property sector is undergoing a tentative period due to uncertainties in regional and global economies. We are thus pleased with the warm response this project has received, which provides us with the motivation to fast-track development. The uniqueness and quality that we have designed into ‘Gardenia I & II’ will add to Jumeirah Village’s growing reputation as a highly desirable mixed-use destination. Our strategic partnership with International Foundation Group also affirms our commitment to maintaining the highest development standards for this project,” said Rizwan Shaikhani.

Located centrally within Jumeirah Village, near the Cultural Centre and the renowned Central Park, ‘Gardenia I & II’ is splendidly designed and meticulously crafted to offer residents a charming yet authentic Mediterranean experience. Incorporating a mixture of residential, commercial and retail spaces, the project features residential apartments including studios, one-bedroom and two-bedroom units and loft apartments, with retail units on the ground floor. The 5-storey residential development has been designed by Dimensions Engineering Consultants (DEC) and incorporates stuccoed walls, tiled roofs, rustic arches, solid wrought iron balcony grills, carved doors, ornamental spiral columns, marble flooring and thematic and floral designs to create a Mediterranean ambience.

“It is critical that the proper foundations are put in place during the initial phases of property construction, which is why we have been chosen to perform shoring and excavation for this major project. Our extensive technical expertise ensures the creation of an understructure that meets Memon’s strict quality and scheduling standards. We look forward to working on this high-profile property and are confident that we can easily meet Memon’s completion schedule,” said Dr. Khalil Charif.

An integrated master community spread across 811 hectares, Jumeirah Village is a mixed-use development that when complete will comprise of residential and business units, retail outlets, international schools, hospitals, shopping malls, connected parks and boulevards, sports fields, mosques, cafes and restaurants. Developed by Nakheel, one of the leading developers in Dubai, the project is 20 minutes from the Dubai International Airport, five minutes from JAFZA, and 50 minutes from the Abu Dhabi airport. The combination of strategic location and the conveniences of a luxury community project have attracted Memon Investments to choose Jumeirah Village as the home for its latest projects.

“The largest inland project in our portfolio, Jumeirah Village is a major part of Nakheel’s vision to transform the desert of Dubai into a series of vibrant communities. Memon Investments meets the high standards we demand from all of our partners across project delivery, quality and sustainability,” concluded Marwan Al Naqi, General Manager, Jumeirah Village.

Memon Investments projects UAE real estate market to bounce back within next 8 to 12 months

Memon Investments projects UAE real estate market to bounce back within next 8 to 12 months

Construction cost per square foot in the Emirates falls by an average of 30 per cent

March 8, 2009

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, has projected that the UAE real estate market will bounce back within the next eight to 12 months. The developer has based its optimistic forecast on recent industry findings, which reflect a decline in the construction cost per square foot within the Emirates by an average of 30 per cent since the onset of the economic crisis. The developer has also committed to continue fostering its strong relationships with leading construction companies, in line with its goals to hit the delivery targets for its projects - starting with the AED 75 million ‘Champions Tower I’, which is due for delivery by the end of 2009.

Industry experts point to the massive drop in the prices of steel, as well as that of other materials including aluminium, wood, glass and diesel. The declining cost of labour and supervision due to recent redundancies and terminations has also contributed to the dip in construction expenditures, which are now pegged between AED 400 to AED 900 per sq. ft. in Dubai and Abu Dhabi, and to as low as AED 170 and AED 200 per sq. ft. in Ajman. Amidst speculations of further decrease in construction costs in the coming months due to plunging oil prices, building materials costs and transportation prices, Memon Investments is focusing all its resources towards hitting the delivery deadline set for all its announced projects.

“In lieu of the massive correction in the prices of basic construction materials, we are now focusing our strategy on the implications of this development, particularly with regards to the construction and delivery of our launched projects,” said Ahmed Shaikhani, Managing Director, Memon Investments. “Our strategic planning and consolidation efforts is being driven by our strong resolve to stay true to our promises to our customers in the face of this economic crisis, and we are proud that our actions are paying off with the steady progress we are witnessing in all our projects.”

Memon Investments currently has a portfolio of projects valued at close to AED 1.34 billion, which includes the high profile residential 'Champions Towers' series, the luxurious ‘'Gardenia I & II’, the ‘Frankfurt Sports Tower I’ and the 'Cambridge Business Centre'. The developer also announced that it has identified major master developments in Dubai, including Jumeirah Village South, MIZIN and Downtown Jebel Ali as locations for its new projects, which will include luxury residential, commercial and mixed-use developments. Amongst the leading construction companies with whom Memon Investments has signed strategic partnerships are Stromek Emirates Foundation, Majed Hilal Contracting, Al Sarh Contracting and Cairo Contracting Company. Additionally, the developer has also partnered with leading UAE-based construction suppliers, including Shanghai & Arabian Electromechanical LLC (SAE), HI-TECH Electro Mechanical Contracting Est, ETA MELCO and WIN GATE Electromechanical Services.

“The current adjustments we are seeing in the price of construction indicate that the industry is becoming healthier, which spells more opportunity in the long-term for those who can withstand these truly challenging times that the market is currently facing. It is our goal that by the time the real estate market regains its former vigour; we will be among the few developers to have endured the challenges and remained stable. We plan to accomplish this by working hand in hand with our construction partners as we determine the best course of action to be taken during this unique period in the history of real estate,” concluded Shaikhani.