Projects in India, Britain and Bulgaria
(Reign Holdings) is investing One Billion Dirhams in Dubai Real Estates
Dubai: Al Khaleej
Reign Real Estate Holdings Company, based in Dubai has announced its intention to invest about 300 million US dollars (more than one billion Dirhams) in real estate projects in Dubai and UAE within 5 years, while the size of real estate projects developed by the company in the United Arab Emirates, India, Britain, Bulgaria, is over a billion US dollars.
Samir Salya, the Chairman of (Reign Holdings) said: the company has allocated 100 million US dollars for investments in UAE for the year 2017, and recently launched Project (Milano By Giovanni Boutique Suites) at Jumeirah village Circle in Dubai with a cost up to 125 million Dirhams, the Tower offers attractive investment opportunities for investors; we also plan to launch 10 other projects in the State over the next 24 months.
Inspired by the Italian city of Milano, which is famous for its distinctive architecture, the Milano Tower consists of 18 floors, comprising 124 furnished and fully serviced apartments. The building is being designed, in all its details, with the highest Italian standards in architecture; the residential units vary between studios and 1BR, 2BR and 3BR apartments. The project completion rate reached 30% so far, and the whole project is scheduled to be handed over in June 2018.
Salya added: Reign Holdings has launched several projects earlier, which had been completed and handed over, including the residential tower (Roma By Giovanni Boutique Suites) at the Dubai sports city. We also have real estate projects under construction or at the design stage, comprising of hotels and residential towers located in Marina, Meydan and Business Bay, in addition to lands allocated for development at Jumeirah Palm and the World Islands.
Salya pointed out that Dubai real estate leasing market is very strong in number of new areas of Dubai that witness growth, such as Dubai sports city, Jumeirah village Circle in Dubai, Discovery Gardens and International city, with very good rental returns, varying between 9% to 10%).