Dubai – 1 April 2013: Both Abyaar Real Estate Development and Naif Saleh Alrajhi Investment Company announced that they have signed a strategic partnership agreement to develop real estate projects in Dubai, and that works based on this agreement will begin by developing Hilliana Tower which is located within Acacia Avenues project at Al-Sufouh district in the heart of Jumeirah at Dubai City – United Arab Emirates.
In this regard, the Chairman of Abyaar Real Estate Development Company Marzooq Al-Rashdan said: “We are proud of concluding this agreement with Naif Saleh Alrajhi Investment Company which holds vast experience in real estate development, in order to develop together Hilliana Tower which represents the most important part of Acacia Avenues project whereby its elevation reaches 104 meters and comprising 28 stories. The project is located near Dubai Media City and few minutes away from Emirates Mall, noting that the expressways network ensures easy access to the center of Dubai City and also Dubai International Airport.
Al-Rashdan affirmed that this partnership agreement shall enhance regional cooperation and also paves the way for more future projects with the other Gulf Cooperation Council Countries.
The Chairman of Naif Saleh Alrajhi Investment Company Naif Alrajhi stressed on the importance of this partnership with Abyaar Company since it is amongst the Gulf companies having impressive track-record in real estate achievements representing landmarks in the whole region, besides it adopts the same principles applied at Naif Saleh Alrajhi Investment Company in respect of real estate development over the last decade in terms of method of developing residential towers, commercial projects and others.
Moreover, the strategic partnerships with strong companies would result in qualitative shift in the sector of investment, noting that there are several of these partnerships that have realized successive achievements in our Arabian Gulf. Furthermore, we as Naif Saleh Alrajhi Investment Company have strengthened our plans and strategies by partnering with Abyaar.