Sweet Homes plans mideast investment

Sweet Homes has announced its plan to invest AED two
billion into the Middle East’s property development sector in 2008.As a
part of the developer’s aggressive expansion towards penetrating the USD 2.4
trillion Middle East real estate market, Sweet Homes has also announced plans to
launch new developments in the other emirates of the UAE, and in the neighbouring
states of Qatar, Oman, Saudi Arabia and in other parts of GCC. The move follows the
recent launch of the AED 2.5 billion Ajman Uptown project, the first freehold villa
and townhouse community in the emirate of Ajman.

With a current project portfolio valued at AED 3.5 billion, including its two
primary projects in Ajman - Rainbow Towers and Ajman Uptown, Sweet Homes has
identified the highly progressive emirates of Dubai and Abu Dhabi as key markets to
penetrate within the first phase of its regional expansion plans. The developer is
positive that its future projects within the UAE will exceed the accomplishments
achieved by its previous ventures, thereby extending its strong reputation in Ajman
and building a significant presence across the entire country. Following the first
phase of investment, Sweet Homes will be embarking on a region-wide expansion plan,
which will cover Qatar, Oman and Saudi Arabia.

“The Middle East presents an enormous array of opportunities within the highly
dynamic real estate market, which has attracted an influx of local, regional, and
international developers all vying to get a their own prominent standing in the
market,” said Fahad Sattar Dero, CEO, Sweet Homes Group. “With our success in the
property development arena in the UAE reaching new heights, the next step for us is
to seek more prospects in the regional market by launching unique projects through
highly localised marketing plans. We have been greatly inspired by the outstanding
performance and the overwhelming interest generated by our latest venture, Ajman
Uptown, and we are now looking forward to surpassing great expectations from
customers and further build a strong reputation for Sweet Home in this highly
competitive market.”

Delivering a holistic range services to its clients, Sweet Homes plans to leverage
its extensive regional experience in the promotion, marketing and overall management
of several high profile projects such as International City, Rufi Twin Towers, DEC
Towers, Al Naemiyah Towers, Al Khor Towers, Corniche Towers, Falcon Office Tower and
Falcon Residential Tower. In addition, the company has also announced its plans to
expand its roster of high value offerings to include contracting, engineering
consultancy, feasibility studies and research, and funds management, which are being
developed to deliver excellent after sales services and ensure customer

“The past four years have witnessed tremendous growth for Sweet Homes in terms of
investments as a developer, in addition to the significant expansion in our offered
services, which now covers almost the entire management, promotion and purchase
processes for both real estate companies and customers. In our focus to emerge as
one of the frontrunners in the market, we are exerting all our efforts to provide
value-added services and utilise our highly specialised resources such as our
in-house media communications arm to fully develop our company as a key brand,”
concluded Dero.


Sweet Homes has launched two prime residential projects in the UAE, namely the
Rainbow Towers and the recently launched Ajman Uptown, which was unveiled by HH
Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman in a ceremony held in
November 2007. The project, which covers four million square feet of land that is
directly accessible from the Emirates Road, offers a unique and flexible four-year
self-financed payment scheme, which will allow investors to pay up to 50 per cent of
the value until the project’s completion, 25 per cent upon delivery and the
remaining 25 per cent after the handover. The villas and townhouses boast of classic
French architecture accentuating the overall theme of the project, which is ‘L’ Art
De Vivre’ or ‘Redefining the Art of Living’.