Bonyan to deliver over 1,000 property units by end of second quarter 2009

Bonyan to deliver over 1,000 property units by end of second quarter 2009

Developer announces sold out status for ‘Dubai Gate 1’, ‘Sharjah Gate Tower’ and ‘ABBCO Tower’

May 19, 2009

Bonyan International Investment Group (Holding) L.L.C., one of the leading real estate companies in Dubai, has announced its plans to deliver over 1,000 property units by the end of the second quarter of 2009. In line with this, the developer also revealed that three of its projects - ‘Dubai Gate 1’, ‘ABBCO Tower’ and ‘Sharjah Gate Tower’ - have already been sold out to investors. At present, all projects are undergoing the final stages of completion, with the developer finalising the legalities for ‘Dubai Gate 1’ and ‘ABBCO Tower’ to be declared as completed projects, while ‘Sharjah Gate Tower’ is at the homestretch of its construction phase.

Located in Al Nahda area, ‘Sharjah Gate Tower’ is set to become one of the tallest towers in Sharjah at 42 floors, and house luxurious two- and three-bedroom apartments, a basement, nine parking floors, two service floors, a pool and a gym. Another Sharjah-based project, ‘ABBCO Tower’ will offer spacious and affordable studio, one- and two-bedroom apartments that overlook the city, in addition to an array of state-of-the-art facilities. Strategically situated in the heart of Dubai, ‘Dubai Gate 1’ is a 35-storey tower, which will house comfortable and stylish one-, two- and three-bedroom apartments.

“We are looking forward to the delivery of 1,000 property units within our project portfolio, especially now when most developers are facing daunting challenges in terms of completing their own developments,” said Anas Atatreh, Vice Chairman of the Board, Bonyan International Investment Group (Holding) L.L.C. “Our customers have a strong appreciation of our resources and quality of projects; therefore, we strive to remain true to our commitments in meeting high standards.”

In compliance with Real Estate Regulatory Agency (RERA), Bonyan has registered under the number 257/2007. Responsible for building a number of luxury residential and high profile commercial developments in the UAE and Qatar, Bonyan Group has built a reputation for developing projects within the most strategic business and residential destinations in the region. In addition to ‘Dubai Gate 1’, ‘Sharjah Gate’, and 'ABBCO Tower’, the Group’s other projects include ‘Rose Tower’, ‘Lulu Tower’, and ‘Dubai Gate 2, amongst others.

“The impending completion of a major part of our projects will effectively provide us with an opportunity to intensify our focus on the rest of our developments once we hand over the units to our clients. We have proven the effectiveness of our strategy, which is to combine our experience, reliable partnerships and resources in building developments that offer high returns to investors,” concluded Atatreh.