By: Ramy Sameeh
Abu Dhabi – Mubasher: Eshraq Properties is expected to launch three projects worth AED 600 million in Dubai and Abu Dhabi this year, according to the company’s General Manager Abdullah Saleh Al Mahimidi.
The first project is located in Jumeirah Village Circle, with investments of AED 225 million, Al Mahimidi added.
This development is expected to be delivered within 25 months ahead of the Expo 2020.
Marina Rise C3 is another project that is expected to be valued at AED 170 million, with its contracts are likely to be signed early April.
The third project is Marina Rise C2 on Reem Island, and its contacts are expected to be inked with total investments worth AED 185 million.
Eshraq will announce the Bain Al Jessrain project early 2018, Al Mahimidi said, adding that the company’s total projects are valued at AED 1.2-1.3 billion in the long term.
The projects will be 60% funded by the company and 40% by banks, he added.
All funding methods are on the table, including instruments and bonds to provide the best funding sources at the lowest cost and risk, Al Mahimidi concluded.
Translated by: Julian Nabil
