Release date:
May 2, 2005.
The first freehold
property offering to come out of Dubai’s ‘The World’ project go on
sale tomorrow at Arabian Travel Market, the Middle East’s premier
travel and tourism show at the Dubai World Trade Centre, when a
limited selection of homes on the OQYANA elitist sanctuary of
supreme lifestyle are released for open purchase.
The mix of exquisite
beach homes and spectacular Bay View and Sea View residences provide
international investors with a first-mover advantage onto ‘The
World’ project, being built offshore Dubai’s Jumeirah coastline.
OQYANA is a project
by The Investment Dar, a publicly-quoted company on the Kuwait Stock
Exchange and EFAD Holding, a major stakeholder in The Investment
Dar. OQYANA is the Australasia segment of ‘The World’ and was named
after the Arabic for Oceanic. It is the world’s first fully
master-planned elite island retreat.
The release of homes
on sale at Arabian Travel Market includes a limited number of Bay
View Residences – the superlative apartments on OQYANA’s North
Victoria Island, Alice Island, the Gibson Islands and South Leopold
Island. The apartments are low rise, spacious and contemporary and
offer incredible views over waterways and a busy marina community.
Also on offer are a
select few Sea View Residences – unique in that they are the
only apartments in the world to offer double-views – of the ocean
and OQYANA bay. The extremely spacious apartments are modern,
striking and light-filled homes on North Leopold and Fraser Islands.
OQYANA, the first
destination to be designed for ‘The World’, is a quantum leap in
Dubai’s freehold real estate offering with a unique concept and a
commitment to service and finishing levels never before seen in the
region.
Unique to OQYANA is
the fact that it will be the Middle East’s first car-free
destination. Travelling around the destination will either be by
inter-island ferries or via an extensive network of seamlessly,
inter-linked walkways.
“OQYANA will truly be
a sanctuary of supreme lifestyle – a tourism-getaway and second home
destination,” said Waleed Al-Humaidhi, Chairman, EFAD Holding. “It
will be a walker’s paradise with 17 kilometres of inter-linked
walkways, a haven for beach lovers with some 5,300 metres of shore
front and a boating hub with over 1,500 berths.
“And all this is
within just four kilometres of Dubai’s Jumeirah Beach coastline.”
OQYANA is the closest
of ‘The World’ destinations to the mainland and will have the best
views of Dubai.
“The entire
destination can be isolated as it has no extensive public water
corridors running through it, providing the highest privacy levels
for residents,” added Al-Humaidhi.
In all, around 10,000
to 12,000 people are expected to take up residency on OQYANA when it
is complete in 2012.
OQYANA will be linked
to the mainland via a ferry service. The destination will also boast
a substantial area of upscale retail and all the community
facilities expected of a high-end, elitist project.
Better Homes LLC of
Dubai, one of the UAE’s leading real estate companies, is assisting
the marketing of the OQYANA properties at Arabian Travel Market,
which runs until May 6.
ENDS
Caption:
OQYANA will enjoy spectacular views of the Dubai coastline.
About The Investment
Dar:
The Investment Dar is a publicly-quoted
company on the Kuwait Stock Exchange and, when founded in 1994, was
the first Islamic finance and investment establishment in the GCC
specialising in consumer finance in accordance with Islamic rules
and Shariah law.
Founding investors include notable
shareholding companies, a number of key public and private
organisations, government bodies, as well as Kuwaiti and GCC
business leaders.
A pioneer in the
development of Islamic finance and investment vehicles, The
Investment Dar in 2000 was behind the launch of Easy Commerce to
finance co-operative suppliers and Manazel projects, specialised
finance and real estate product aimed at addressing Kuwait’s housing
problems. At the same time, The Investment Dar introduced the Al-Ijara
investment portfolio and was entrusted with the management of the
First Finance Company in Qatar, considered the Gulf’s Islamic
finance leader.
In 2002, The Investment Dar, which is
certified to ISO 9001 quality standards, began to specialise in
direct investment, portfolio and fund management and launched the
Al-Dar Real Estate Fund.
The Investment Dar
has also been accredited by Capital Intelligence, a leading
categorisation agency, with an A-4 grade for short-term periods and
BB grade for long term. The company operates in full compliance with
the rule of the Central Bank of Kuwait and under close and constant
contact with the country’s financial supervisory authorities and
bodies.
About EFAD Holding:
Headquartered in
Kuwait, EFAD Holding is a highly diversified investment,
development, ownership and management group operating across a range
of sectors, including real estate, contracting, general trading,
hospitality, engineering, transportation and logistics, I.T. and
design.
The Group’s
geographic footprint spans the Middle East and Europe. The Group
owns and manages a group of affiliates all distinguished by their
diversification and creativity. All are charged with delivery of
quality service and products. Carefully studied finance tools play a
significant role in the mitigation of risk and alleviation of
returns for investors.
For further information:
www.efadholding.com
