ABU DHABI’S MANAZEL SIGNS DEAL FOR THREE PROJECTS

Gulf Business - - NEWS AND VIEWS -

Abu Dhabi-listed Manazel Real Es­tate has signed a co-de­vel­op­ment deal with Tasameem Real Es­tate for three new projects in Dubai and Abu Dhabi at an in­vest­ment of Dh­s500m ($136.1m).

The Shariah-com­pli­ant real es­tate firm said it was in dis­cus­sions with other com­pa­nies for sim­i­lar deals in the UAE, South Africa and wider Mid­dle East.

Manazel Yas Tower on Abu Dhabi’s Yas Is­land, Manazel Sil­i­con Oa­sis Res­i­dences in Dubai’s Sil­i­con Oa­sis and a third pro­ject in Dubai’s Jumeirah Vil­lage Cir­cle will add to the com­pany’s res­i­den­tial prop­erty port­fo­lio.

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