Bayan Investment Signs Deal to Buy Plots Valued K.D. 80 Million through One of its Subsidiaries
Bonyan Real Estate Company K.S.C.C. – a subsidiary and fully owned by Bayan Investment Company – announced signing an initial deal with Al Reem Development (UAE Company) to purchase 5 plots in a strategic location of Najmat Abu Dhabi Project on Al-Reem Island – UAE. The total land area is 46,400 square meters and value approximately K.D. 80 Million.
Mr. Abdulwahab Al-Ameer – General Manager of Bonyan Real Estate – stated that the properties will be developed by constructing multipurpose Iconic Towers and buildings varies between residential units, high-tech, state-of-the-art office space, in addition to retail shops and parking facilities. The Iconic Towers are considered the main attraction of the whole development and will boast 75-80 floors each. This project will provide a unique and modern life style inspired by the future and will contribute towards the reformulation of international standards of real estate development in the Middle East.
United Arab Emirates, in general, and Abu Dhabi Emirate, in particular, considered being an attracting place for investment due to its economic and investment policy that is well structured and managed by a government of Abu Dhabi with concentration on long term economic vision and investment strategy.