Dubai PR Network, Online Press Release from Dubai and Middle East
 
Property & Real Estate(Real Estate & Retail)
Filter PR by
  
Orion Holdings Acquires Property Worth AED22 Million from Memon Investments
 

224-unit Gated Residential Development at Dubai Sports City Scheduled for Delivery in September 2014

Dubai-UAE: 27 June, 2013 – Orion Holdings, a private-owned residential and commercial property group based in Dubai, today announced the acquisition of property worth AED 22,141,500 from Memon Investments, a property-development arm of the international business conglomerate Memon Group of Companies.

A memorandum of understanding cementing the deal was signed between the two parties on 1st June 2013.

Taking shape at Dubai Sports City, nearly 41 per cent of the construction has been completed for the development that is scheduled for delivery by September 2014. The residential project will span across a total area of 177,378 sq. feet and comprise 224 units, including 140 studios, 56 one-bedroom units, and 28 two-bedroom apartments.

Designed by Al Hatmy Consultants, Frankfurt Tower 1 will also feature two levels of basement parking, covered parking on the ground floor, and state-of-the-art amenities such as hi-speed elevators, 24-hour manned security, and a top-of-the-line surveillance system. In addition, the tower will offer residents a panoramic view of the golf course, parks, and gardens within the gated community.

Samir Munshi, Managing Director,Orion Holdings, said:“We are pleased to have inked this deal with Memon Investments, and expect to gain an estimate of over 40 per cent return upon completion. Our portfolio within Dubai Sports City is especially focused on the residential sector given the plans to deploy high quality infrastructure in the area. Orion specializes in identifying high potential investment opportunities that are well positioned to reap significant gains for our clients.”

Orion Holdings is predominantly involved in four major areas of the real estate business: buying and selling of residential, commercial, and rental properties, acquiring unfinished developments, as well as providing liquidity to developers in the event of fund deficits for existing projects.

Silver Heights, the sales and marketing arm of Orion, is responsible for ensuring the seamless flow of sales and purchase transactions across a vast portfolio of developments including Business Bay, Jumeirah Village Circle, International City, Dubai Silicon Oasis, Jumeirah Golf Estates, and Emirates Hills.


Posted by : Dubai PR Network Editorial Team
Viewed 18294 times
PR Category : Real Estate & Retail
Posted on : Saturday, July 6, 2013  5:00:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Sultan Group Investments boosts Dubai's dedicated office spa...
Next Story : The Municipality of Abu Dhabi unveils plans to create urban ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Enjoy Smoother Skin with the current obsession from PMD - The Personal Microdermabrasion R... [6789-Views]
A new model for the ladies enriches the Corum AC-One collection with luscious femininity [6112-Views]
Energize & Refresh Your Skin With the Foreo Luna 2 for Men [5789-Views]
Saint Honore Haussman [5758-Views]
The new urban warrior unleashed - Corum injects modernity and athleticism into its Admira... [4313-Views]
6 Ways To Wear The Houndstooth Print [4264-Views]
From Dubai Police's floating police station to Etisalat's Lazareth Flying Motorcycle – ele... [4240-Views]
Hamdan bin Mohammed calls on the city to be ‘In It Together' for the Dubai Fitness Challen... [4227-Views]
Medusa Lock Icon [4093-Views]
Middle East Retail Forum (MRF) 2019 focused on RetailNEXT [4032-Views]
One stop shop for classifieds and deals in UAE- QUOODO.com [3995-Views]
This visually-impaired Emirati knows no impossible [3989-Views]
Heritage village at Global Village offers a glimpse into Emirati traditions [3874-Views]
Marks & Spencer Launches Its New Sleepwear Collection for AW19 [3867-Views]
OMEGA's new Museum [3855-Views]
The Coffee Club in Al Bateen, Abu Dhabi re-opens with a refreshed new look [3843-Views]
Choithrams Customer lends her voice to World Food Day in support of The United Nations Wor... [3831-Views]
Al Tayer Battles on in China After Aquabike Setback [3697-Views]
More than 1,900 beneficiaries at Al Mizhar and Umm Al Sheif Islamic Cultural centres in th... [3636-Views]
Expo Centre Sharjah announces winner of 1KG gold [3538-Views]
Malabar Gold & Diamonds inaugurates its relocated outlet in Hamdan Street, Abu Dhabi on 10... [3446-Views]
Revving The Engines At Rallylegend 2019 With Eberhard & Co. [3373-Views]
The Workwear Edit [3331-Views]
Dubai-Based NRI business leader donates INR 10m to his Alma Mater to setup Innovation and ... [3288-Views]
Union Coop Hosts Almarai's Gifting Ceremony For the Second Time [3251-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories