Attracting Dhs300mn Saudi Investments in mind
• “Andalusia Courtyard” a new addition to shopping experience in the emirate
• Launching the mall project in the heart of “Dubailand” at the end of this year
Saleh Tabakh, CEO:
• Dhs160mn investments for “Andalusia Courtyard” in 2022
• We are currently assessing the necessary licenses to launch 3 new projects
Dubai, UAE, Sunday , September 26, 2021:Al AndalusiaCourtyard, a Dubai-based real estate developer, is to launch the new family business district “Andalusia Courtyard” located in the heart of the “Dubai land” , which offers an exceptional mix of world-class entertainment and leisure venues, sports attractions, tourism complexes and residents suitable for families.
The Andalusia Courtyard project is considered the first project of the Al AndalusiaCourtyard real estate in Dubai, as it is expected to open its doors to visitors before the end of this year. The project is located in the Majan area in Dubai land, on an area of 100,000 square feet, at a total cost Dhs40mn.
The project includes an open-air commercial complex with 33 different shops serving residential areas in the Majan area in the heart of Dubai, and the surrounding areas on a 12-kilometre perimeter such as “Arabian Ranches”, “Nad Al Sheba” and “Victory Heights”.
The location of the project in the Majan area of the “Dubailand” is the most important feature , as it is located on Sheikh Mohammed bin Zayed Road close to the vital areas of Dubai. The project is 4 minutes away from IMG Worlds of Adventure, one of the largest theme parks in Dubai, 8 minutes from Global Village, 23 minutes from Downtown Dubai, 27 minutes from Dubai Marina, 22 minutes from Dubai International Airport, and 34 minutes driving from the new Al Maktoum International Airport.
In addition to its location near downtown Dubai, the project is characterized by its sustainable specs and architectural design that combines innovation and creativity, as the commercial complex includes three areas surrounding parking lots to provide the idea of architectural balance and ease of access to all stores with ease.
In addition to this project, Al Andalusia Courtyard plans to launch a number of other projects in Dubai, which will be announced during the last quarter of this year.
“We started work in the project during the pandemic time and we were confident that the economic situation in the emirate of Dubai would stabilize, so we were keen to follow up on the work as scheduled,” said Saleh Tabakh, CEO.” We continue work on the project so as to be ready for handing over before the end of 2021,” he added.
Tabakh said that the company seeks to invest in residential projects with new and distinctive services.
The main idea is to develop projects that have untapped opportunities, which adds an advantage and value to the project in the interest of the developer, residents and buyers.
“Our current strategy is to find opportunities in the market to purchase new lands within existing projects, as we seek to develop two new projects being studied at present.
The company’s investments will not be limited to commercial centers, but it is in the process of launching distinctive housing projects that will be announced soon, as it is currently assessing the necessary approvals for licenses in order to launch three new projects,” he said.
“The company aims to focus on investing in the areas that are identified by their specialized team .
Perhaps the most prominent merits of these areas is the existing projects that have the ability of being developed and opportunities to increase their market value, ” he added.
He pointed out that Al Andalusia Courtyard seeks to attract Saudi investments to the United Arab Emirates as an important gateway to the real estate market and to the Saudi investor due to its distinguished relations and experience in the real estate market.
“The company seeks to offer new portfolios and new investment opportunities to attract a larger number of Saudi investors ,” Tabbakh said.
The CEO revealed that the value of the company’s total investments will reach Dhs160mn next year, which will be increased by Dhs300mn within 3 years.
Al-Wathba Building Contracting Company was the main contractor in Al-Andalusia Courtyard project, while CVTech Consultants Engineers was the architect of the project.
About Al-Al Andalusia Courtyard
Al Andalusia Courtyard Real Estate Developer, based in Dubai, was established in 2019 with the aim of attracting Saudi investments and financial portfolios , commercial and service investment to the United Arab Emirates.
The company succeeded in attracting a number of Saudi shareholders, and developed its first business, which is the “Andalusia Courtyard” shopping complex in the Emirate of Dubai.
The group includes a number of companies specialized in real estate development, maintenance, asset management, commercial investment, retail stores, general investments and real estate financing.
Al Andalusia Courtyard also works in the field of restaurants and obtains “franchise rights” from international restaurants, in addition to managing the assets it develops and providing most of the administrative, engineering and commercial services .
About Saleh Tabakh:
Saleh Tabakh, who has 18 years of extensive experience in the real estate market , has been the CEO of Al Al Andalusia Courtyard in Dubai since November 2020 until now.
He served as a consultant to the CEO and head of commerce, development and operations at MAG Real Estate Development between 2019 and 2020, a member of the board of the New York City-based Gerson Lerman Consulting Group between 2016 and 2021, CEO of Delta International Real Estate between 2014 and 2019 and GM of the Middle East franchise in the group.