Bonyan sells out Dh5bn Sama and majority of Eye of Ajman project

Bonyan International Investment Group (Holding), a real estate developer, said yesterday that it has sold majority of its Dh3.5 billion Eye of Ajman community development and has completely sold out the Dh5bn Sama Al Jaddaf project.

Investors have benefited particularly from the Sama Al Jadaf community project, a 215-plot master development located in the Al Jadaf area in Dubai with Al Omran Real Estate Development, a Kuwait-based property developer, generating more than 30 per cent return on investment from the project, Bonyan said.

Al Omran had signed a sales and purchasing agreement and bought several plots within the Sama Al Jaddaf project in 2007.

"Bonyan International offers one of the highest RoI among developers, which makes it a popular choice for local, regional and international investors seeking high-yielding investment opportunities. Moreover, Bonyan is recognised for taking special care of its clients, an important attribute that has endeared the company more to the public. Our high-profile community development projects are strategically located and are conceptualised based on the company's keen understanding of the regional and local markets," said Majed Nasser Al Kimlass, General Manager, Al Omran Real Estate Development.

The growth in the real estate sector in Dubai shows no sign of reversing its upward trend with the growing demand generated by a steadily increasing population being touted as a key driver of this growth. Dubai Municipality statistics indicate a 5.56 per cent population growth rate per annum since 1992, while Dubai's perimeters are expanding an average of 6.2 per cent a year due to construction projects.

"Our dedicated efforts to deliver projects, which offer a high return on investment for our customers is part of our commitment to meet clients' expectations. In addition to satisfying our customers' demands in terms of timely delivery and high construction standards, it is also our primary concern to maintain an insightful market outlook to help us foresee new growth opportunities. We have already identified potential projects and areas across the UAE, and our focus now is to leverage the favourable investment and business atmosphere to deliver more projects in the booming real estate sector not just in the UAE but in the region," said Abdullah Atatreh, Chairman, Bonyan International Investment Group (Holding).

Bonyan has developed Dh3bn worth of residential and commercial developments in Dubai, including Rose Tower and Lulu Tower, and is currently undertaking regional projects with aims of expanding its project portfolio to reach Dh15bn in three years.

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