NOBLES Properties establishes strategic partnership and develops projects valued at AED 8 billion

NOBLES Properties revealed further details relating to its two forthcoming high-end luxury residential apartment complexes, with an estimated total value of AED 8 billion, located in the Dubai Waterfront and Burj Dubai areas.

NOBLES Properties has signed a strategic agreement with Rasmala, appointing the leading regional investment banking firm as issue manager and placement agent for 25 percent of the Waterfront and Burj Downtown Development Company.

NOBLES Properties will retain the other 75 percent. Mr. Omar Ayesh signed the agreement on behalf of NOBLES Properties, and the Deputy CEO of Rasmala, Mr. Tamer Bazzari, signed on behalf of the investment banking firm.

Speaking of the new company, Mr. Ayesh said,

“The Waterfront and Burj Downtown Development Company represents an excellent investment opportunity in two of the emirate’s most attractive locations – the Dubai Waterfront and Burj Dubai – both being well-situated along the planned Metro routes serving distinct commercial locations. We are confident that the partnership with Rasmala will ensure that the company will be well-structured and enable strategic co-investors to participate with NOBLES Properties in this very interesting venture. Once completed, we expect the two projects to offer high occupancy rates. We also anticipate attractive investment returns to our strategic co-investors.”

“We at Rasmala believe that the attractiveness of these two developments and the track record and experience of the Nobles Properties management team combine to present an excellent equity investment opportunity, and we look forward to being involved in the placement process for the Waterfront and Burj Downtown Development Company,” said Mr. Bazzari.

“Given the unique portfolio of projects Nobles has in the pipeline in key regional growth markets, we believe that Nobles can make a strong argument for a strategy that will succeed despite the current Global and Regional economic environment.” he added.

The establishment of the Waterfront and Burj Downtown Development Company in Dubai represents an important addition to the activities of Nobles Properties after its recent investments in two master planned communities in Libya and Yemen which have received significant interests from investors.

Arabian Business/Press release

Nobles to unveil Dh10bn ventures

Nobles Properties, the Dh4 billion real estate investment company launched by former Tameer Holding chief executive Omar Ayesh, will soon announce projects worth Dh10 billion in various parts of the Middle East, a top official said.

“We will launch three inter-connected towers with a built-up area of 2.3 million square feet on Dubai Waterfront, worth Dh7 billion in November,”

Omar Ayesh, chairman of Nobles Investments, told Gulf News in an interview.

The project will have residential, commercial and retail facilities as well as a luxury hotel.

The company, which will formally launch these projects in November, will also launch a Dh2 billion project in Burj Dubai.

Nobles has also identified three projects in Libya - a country which is coming out of economic and political isolation.

The company has already announced a Dh1.8 billion project involving three towers to be built in Tripoli, the country’s capital.

It has signed an agreement with Oya Tourism Investment and Development, a subsidiary of Libya’s Economic and Social Development Fund (ESDF), to develop Tripoli Towers, the company announced recently.

The project will be developed on a 275,000 square feet waterfront plot in the heart of Tripoli, with a total built-up area of 3.5 million square feet.

The new mixed-use project comprises two 40-storey towers, equipped with state-of-the-art facilities and various integrated services.

The first tower will boast a 5-star hotel facility, fitted with modern leisure and business amenities, high-end serviced apartments and a shopping centre.

The second tower will hold office space, providing a work environment designed to offer comfort, convenience and style of the highest standards.

“Our projects in Libya involves two master planned communities that could spread across 36 million square feet,” Ayesh said.

“These are among many projects in some of the region’s virgin markets.”

Nobles is in the process of creating its own verticals - investment, development, property management and property sales and marketing divisions - each of which will become profit centres within the framework of a holding company - solely owned by Ayesh.

“We have major plans to become the number one developer in the region,” Ayesh said. “We look for the opportunities at the right price and we have a long-term commitment to the region.”

On the current UAE market situation, Ayesh expressed his optimism.

“The market has been affected as foreign institutional investors have withdrawn billions of dollars from the local market to make up for losses elsewhere, which created a temporary correction,” he said.

Gulfnews

Establishment of Dhs4bn Nobles Investments announced

Nobles Investments, a newly established AED 4 billion real estate development company has been announced in Dubai, UAE. The company will be focusing on the ever-growing real estate markets in UAE and the Middle East, and is fully committed to launching several high-end projects by the end of the year.

Speaking at the occasion, the Founding Chairman of the company Mr. Omar Ayesh said:

“The establishment of Nobles Investments inaugurates numerous years of industry experience, and fuels a totally new concept the company is set to introduce based on global best practices and business ethics. The company has adopted “The Art of Life” as a core strategy, where performance revolves around three pillars; the team, the customers and the strategic partners”.

Nobles Investments is committed to attracting the best industry talents who are destined to share the glory of NoblesC success story as part of the team. The company is offering competitive and attractive packages, and is providing a dynamic working environment that has been carefully designed to stimulate creativity and team work. The offices and showrooms are equipped with areas designated for entertainment and refreshment, along with a specialized day care centre.

Nobles values its customers as partners in success. The company has laid plans to cater for their needs with the most profitable opportunities that guarantee the highest levels of comfort, convenience and ultimate returns. Nobles’ upscale projects will adhere to top international quality standards, and will be equipped with seven-star luxurious facilities at affordable prices. The company has adopted a new philosophy towards customer services, targeting top satisfaction not only during the sales process, but also after the sale

Nobles Investments has selected its partners with great care and has only formed alliances with world renowned, reputable and credible companies. The company will adopt the highest international standards in dealing with its partners, be it engineering consultants, contractors or marketing agencies, to work together for mutual success.

Every office and showroom of Nobels’ will be supported with a state of the art business centre, equipped with all the necessary means of communications and services such as internet and refreshment areas to provide hospitality to its business partners and customers.

Mr. Ayesh’s seasoned leadership within the regional real estate industry has earned him several notable awards. He was voted “CEO of the Year 2007″ in the Property Development category of ITP Publishing GroupCs annual CEO Awards. He has also been awarded Ernst & Young’s “Middle East Entrepreneur of the Year 2007”, which recognizes outstanding entrepreneurs on a regional and global level. Most recently he was the receiver of the prestigious Mohammed Bin Rashid Al-Maktoum Business Award 2007.