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Mizin Achieves it targets

Mizin, a real estate development company and a member of Tatweer, said it had sold more than 20 million square feet of built up area to investors since its launch four months ago.

Mizin chief executive officer Sami Al Hashmi said: “After launching three landmark, multi-million square feet projects in less than four months, Mizin has met its land sales target.

“Mizin has a commitment to creating projects that assure substantial gains for our partners.

“This has been recognised by buyers and investors who have snapped up a total built-up area of more than 60 million gross floor area (GFA), equivalent to more than 20 million sq ft of land area, valued at more than Dh4.6 billion.”

Disclosing the sales figures for the first time, Al Hashmi revealed its first project – Liwan – has been sold out. Spread across 13 million sq ft, and located near Academic City and Dubai Silicon Oasis, Liwan is a landmark development with 100 separate residential complexes and six iconic business towers.

Al Hashmi added: “Of the other two, 85 per cent of Majan, a mixed-use development incorporating residential, retail and commercial units spread across 16.5 million sq ft, has been sold out.

“Arjan, a mixed-use Dh20 billion project, to be built over the next three years on an area of 20 million sq ft, is 75 per cent sold out.”

All road infrastructure works at Majan have been completed.

Road works of Liwan and Arjan will be completed by April and before the end of the year respectively.

“The overwhelming response from investors is due to the fact that we offer projects that are ready for development by investors. This means there is no waiting time between investing and starting construction,” Al Hashmi said.

Mizin will announce more themed developments for the general public within the next few months, all based on market research and investor demand.

Launched in September 2006, Mizin, a member of Tatweer, is a real-estate specialized company. Going the extra mile beyond the traditional concept of real-estate development, Mizin will introduce innovative ideas with unique value propositions and ensure implementation is inline with the highest international standards.

Launched in December 2005 Tatweer is one the region’s most promising enterprises and a Member of Dubai Holding. It owns nine market-leading companies and managing an ambitious business development plan.

Its current portfolio is divided into Energy & Healthcare, Tourism & Entertainment, Industry & Knowledge.

Its entities are Dubai Healthcare City, the region's hub for world-class quality healthcare services; Mizin, one of the most advanced real estate companies in the region; Dubailand, one of the biggest leisure, entertainment and tourism destinations in the Middle East region; Dubai Industrial City, an industrial township to develop Dubai as a leading manufacturing hub; Bawadi, the world’s leading hospitality and entertainment project bringing 31 hotels and more than 29,000 hotel rooms; Dubai Energy, investing in regional and global energy opportunities and building a diversified investment portfolio; Dubai Mercantile Exchange, the first commodity futures exchange in the Middle East; Global Village, which brings together 160 different countries showcasing myriad cultures; and Moutamarat, the first Arab initiative organizing research-based conferences and exhibitions.

A Member of Dubai Holding, Tatweer and its entities will continue to consolidate a group of life-improving industries.

In addition, it has pioneered the market with joint venture initiatives with leading companies such as the New York Mercantile Exchange or the Saudi Research and Publishing Company.

Tatweer will continuously strive for world-class performance implementing leadership development to drive and sustain business excellence, quality and high performance.TradeArabia News Service


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