The investments include the 3 ‘sports legend commercial towers’, named the ‘Trilogy’ alongside Dubai’s up-market Business Bay; with another 5 new towers soon to be launched in Abu Dhabi. “The UAE property market offers significant opportunities for hard currency investors. The global fluctuations in interest rates and imminent slump in the US will continue to divert funds globally to pockets such as the emirates which offer sterling opportunities for ready investors,” says Robin Lohmann, CEO of ACI Real Estate.
ACI recently launched three iconic buildings in Business Bay, Dubai, named after the sporting legends, Michael Schumacher, Niki Lauda and Boris Becker. The Trilogy, as the group is named, is valued at over 2.2 billion dirham ($599 million) and is earmarked for completion in 2009/10. The company plans to develop a total of 13 commercial and residential real estate projects in Dubai and Abu Dhabi. (gowelthy.com, UAE)
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