Define Properties launched with total asset of AED 1.7 Billion
Dubai UAE 03, June 2008: Newly launched property development company, Define Properties, has entered
the market with a flying start after selling their entire first project Niki Lauda, off plan, before either company
or building launched.
During its launch press conference held yesterday at Burj Al Arab, Define Properties made its presence
known with the announcement of early achievements and its future plans and goals.
Initiated with a paid up capital of AED 500 million, after acquiring different plots of land in Dubai, Define
Properties’ assets today are valued at AED 1.7 Billion which include 12 plots in the Waterfront and 1 plot in
President and CEO Tarek Kandil said that the company’s first project Niki Lauda is already under
“We have decided through our business plan to create a success story and show how we do the right things
the right way! We sold our Niki Lauda twin towers during our setup phase and started enabling and
foundation works during the same month. Our planned completion is during the 3rd quarter of 2010 and we are well on schedule.” Kandil said.
“We provide distinctive partnership opportunities to companies, brands, investment houses and individuals
who are looking for profitable capital investments and have engaged in both joint ventures and long term
partnership opportunities. With the systems we have in place, we are able to ensure our partners are offered
a plan that provides higher returns on their investments and are able to remain fully secured,” Kandil added