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2008 October 18 |
BALLI REAL ESTATE, the property investment and development division of the Balli Group, is to invest $3.5 billion into the Middle East realty as part of an expansion strategy in the region.
The company has invested in four major residential and mixed-use projects in the UAE, under the Peacock Ventures brand, with a combined total of over 1.000 luxury residences.
Properties in the company’s portfolio include unites at the Culture Village district and the Waterfront precinct.
Balli is attending the Cityscape event in Dubai to explore more real estate opportunities and to establish more working relationships with businesses and industry professionals.
Vahid Alaghband, chairman of Balli Group, said: “Cityscape is the major property exhibition for the Middle East, so we see it as the perfect location to meet with developers and agents and review the latest investment opportunities in the region and also update the international property sector on what we are doing, as well as highlighting the many opportunities we see coming up in the future.”
He said: “We will continue to expand Balli Real Estate’s and Peacock Ventures’ operations in the Middle East and beyond in 2009.”
The Balli Group is a large private multinational corporation with offices in Dubai and London.
Hassan Alaghband, Director of Balli Group, said: “Whether it’s in the UAE or UK, we undertake joint ventures or direct development of luxury residential, commercial and mixed-use projects under the Balli Real Estate or Peacock Ventures Ltd brands.
We are also establishing a Dubaibased property fund into which the group’s investor contacts will be invited to provide investment. The real estate division forms a fundamental part of the ongoing expansion and diversification strategy of Balli and the returns achieved from our property investments in the Middle East and London have proved to be highly lucrative.”
David Reid, Director at Balli Real Estate, said: “We have been undertaking joint venture, fund investment and bulk purchase projects in Dubai for a number of years and we have steadily built our presence in the market. We have found Dubai to be highly profitable and will continue to expand our operations in the UAE.”
“We will continue to expand Balli Real Estate’s and Peacock Ventures’ operations in the Middle East and beyond in 2009.”
-Vahid Alaghband
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