Sheikh Maktoum bin Hasher Al Maktoum, founder of A1 Grand Prix,
Chairman of Dubai International Holding Company (DIHC) and CEO of Al
Fajer Group (AFG) has been given a new appointment as President of Al
Fajer Properties (AFP), one of the leading property developers in the
UAE.
Upon his new appointment as President of AFP, Sheikh Maktoum is
pleased to announce the first significant European investment
partnership in the Dubai commercial property market following a
signing with Kulczyk Investment House (KIH).
The initial investment of AED 225 million will be through a Real
Estate Investment Partnership (REIP), an innovative investment concept
created by Sheikh Maktoum and Mr. Manoj Narender Madnani, Managing
Director, KIH, Dubai.
This is one of the first REIP transactions made possible by Sheikh
Maktoum for KIH in the region. Sheikh Maktoum will be giving KIH the
opportunity to invest in the Jumeirah Lake Towers community through
his world class Al Fajer Properties project ´Jumeirah Business Centre
Towers´ the regions first branded office chain, a wholly owned
subsidiary of the Al Fajer Group.
Commenting on the alliance, His Highness Sheikh Hasher Maktoum,
Chairman of Al Fajer Group said: "Al Fajer Properties has posted
significant growth in the Dubai´s real estate market and I am
confident that with the expertise and experience of my son, Sheikh
Maktoum, CEO of Al Fajer Group, the company is poised to be a global
entity."
Commenting on the partnership, Sheikh Maktoum thanked his father
for his diligent efforts in growing the company (AFG) within the last
40 years into a nationally recognizable brand name with a myriad of
services throughout the UAE. He was further quoted as saying: "Al
Fajer Properties primary focus is to create investment opportunities
in the region given the current market volatility in Europe and North
America for investors abroad. This, coupled with the increase in the
price of oil, has created significant market liquidity in the region
making the Middle East a safe haven for investment within the real
estate sector. The significant increase in petrodollars has also given
us the ability to begin considering unlocking value in current assets
and exploring new international opportunities in Europe and N.America
as well. Al Fajer Group is delighted that KIH has chosen us as their
preferred partner in not only investing in existing Al Fajer
Properties, but also in exploring the wealth of opportunities in this
rapidly developing sector across the region."
Sheikh Maktoum verbally reaffirmed AFG´s commitment to delivering
the highest standards for quality and excellence which is the
embodiment of Dubai. It his Highnesses belief that yields and returns
in the real estate market within the region will continue to escalate
in what is proving to be one of the strongest and most sustainable
property regions in the world. His Highness hopes that as foreign
investor confidence continues in the region, new partnership
opportunities will continue to present themselves continuing to place
Dubai as a city of high standards and excellence thanks to the
visionary approach of the ruler UAE Vice President, Prime Minister and
Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum.
NOTES TO EDITOR
1.Sheikh Maktoum received his BS/BA from Suffolk University in
Boston. Since that time some of his biggest success stories include
being one of the founding investors of Virgin Megastores in the UAE
(which has now grown to hold a major market share in the region)
followed by the creation of the global brand "A1 Grand Prix." The
current investment opportunity presented to Kulckyz Investment House
is one of many expected international partnerships to take seed on
this scale under the management of His Highness. His Highness hopes to
make the Al Fajer Group a globally recognizable brand as he aims to
position himself within the US & Europe as part of an overall global
growth strategy.
2. Kulczyk Investment House is an international investment company
that is set to become the most significant player to emerge from
Central and Eastern Europe in modern times. The company´s strategy
assumes expansion in all continents, with the overriding aim of
investing in the most promising global industrial and geographical
sectors, namely, those offering the highest rates of return. The
business lines are focused on real estate, energy - power and oil and
gas, infrastructure and automotive. The company is headquartered in
Luxembourg with offices in Warsaw, London, Kiev, Dubai and Vienna.
Current portfolio investments include: Autostrada Wielkopolska S.A.,
Autostrada Eksploatacja S.A., Kompania Piwowarska S.A., Loon Energy,
Ophir Energy Ltd., Polenergia S.A., Skoda Auto Polska S.A., Kulczyk
Tradex S.A., POCH S.A.
Kulczyk Investment House takes it name from Jan Kulczyk, the
Polish entrepreneur and international businessman, who set up Kulczyk
Holding in 1991 and who is now non-Executive Chairman of the company´s
Supervisory Board. He has also just been appointed Chairman of the
Board of Green Cross International, the international environmental
organization, founded by Mikhail Gorbachev, the last leader of the
communist party and the only president of the USSR.
3.Al Fajer Properties LLC, was established in November 2004 as a
wholly owned subsidiary of AFG. Since then the company has built up a
significant land bank of note. The company is currently in the process
of developing its flagship project which consists of 5 commercial
towers located in the ´Jumeirah Lake Towers Community. With an
estimated project value of over AED 3 billion the company has
positioned itself to become a leading player in the fastest growing
real estate market in the world.
4. Al Fajer Group was established in 1965, by its Group President
His Highness Sheikh Hasher Bin Maktoum Al Maktoum. Since his
appointment of CEO of the group in 1998 the company has rapidly grown
to a diversified business entity delivering high quality service to a
wide range of international clients. With more than 18,000 employees
and an annual group turnover of AED 5.8 billion. The Group´s business
interests to date have now placed it as a market leader with the
following nationally recognizable companies incorporated under its
umbrella; Al Ahmadiah Contracting & Trading which is a leading
national contracting firm with over 35yrs of widespread construction
experience, Al Ahmadiah Aktor LLC identified as one of the few
established professional construction companies reputed for its
reliable expertise in intricate designs and exacting quality
standards, Al Fajer Security & Maintenance a leading specialist in
providing a wide range of multi-property services, Lunar Electro a
national Electro Mechanical Contracting firm, Al Fajer Establishment a
general trading company with over 3 decades of expertise representing
world renowned and leading brand of products supplying to the
construction and printing industry, Balmer Lawrie & Co. Ltd a well
established company in India which has become a pioneer in container
manufacturing in the Middle East specializing in mild steel barrels
and drums, Al Fajer Information & Services with over 2 decades of
experience in providing a complete range of organization and
management services through its five divisions which are; Fairs and
Exhibitions, Octanorm Displays, Shop Fittings, Design & Graphics and
International Exhibit Builders. Other group members include; Al Fajer
Travel & Tourism, Al Fajer Medical Supplies, Al Fajer Interiors &
Decorations LLC and Al Fajer Investments & Development.
