The commercial realty major, Al Fajer Properties has announced that it is currently participating in the UAE-Korea Investment Opportunities Exhibition which was officially opened yesterday (Thursday, June 7, 2007), in Seoul by H.H Sheikha Lubna Al Qasimi, the UAE Minister of Economy, and the Korean Minister of Industry & Energy, H.E. Young Ju Kim. Al Fajer Properties is leveraging the exhibition platform to highlight various realty investment opportunities in Dubai, while also showcasing its portfolio of projects in the UAE.

The three-day exhibition, organized by the federation of UAE Chambers of Commerce & Industry and Korea Chamber of commerce and Industry, is being held at a time when the trade volume between the two countries is growing rapidly – in 2006, the trade volume between UAE and Korea crossed US$ 15 billion.

Several Korean investors present at the exhibition showed keen interest in various Al Fajer projects showcased at the event. The renowned Korean actor cum singer, Song Ki Yoon expressed his desire to invest in Al Fajer’s Jumeriah Business Center towers, the world’s first branded five-star office chain situated at the Jumeriah Lake Towers community in Dubai. Senior officials of Al Fajer Properties said that Yoon’s interest in the five-tower commercial property follows recent celebrity investments in the development, including World Cup soccer hero Luis Figo.

Dr. Shahram Abdullah Zadeh, Chief Executive Officer of Al Fajer Properties, said: “Korean investors are gradually beginning to realise the benefits of investing in Dubai’s realty space and already a few developers, apart from many contracting firms, are present in the emirate either through joint ventures or on their own. Our main objective of taking part in this exhibition is to accelerate private sector partnerships, which we believe is a natural extension of the strong relationship between both the countries.”

Highlighting the growth potential in Dubai’s real estate sector to Korean investors, Dr. Shahram said the investment interest by Yoon is a significant indication of the global interest in the realty developments of the emirate, which offers higher returns than many key global markets.

Commenting on his decision to invest in the Jumeriah Business Center development, Yoon said, “I have been hearing a lot about Dubai’s phenomenal growth in the recent years and going by current market trends, this pace of growth looks certain to continue for several more years to come. Investing in Dubai has been on my agenda for sometime now, but I was waiting for the right opportunity. The Jumeriah Business Center development seems like the perfect investment option for me considering the various benefits of the project and its strategic location.”



Jumeirah Business Centre towers are part of Al Fajer’s current portfolio of US$ 1.5 billion worth of projects by Al Fajer Properties. The company is also in advanced stages of finalizing its foray into residential property and hospitality sectors, apart from looking at expanding the office property brand.

“Jumeirah Business Centre towers come with many unique advantages and the highlight is that it is in a free zone location which ensures 100 per cent repatriation of profits. Dubai, being renowned for offering tax-free benefits, the freehold project offers a value added investment proposition to investors,” highlighted Dr. Shahram.

Addressing a gathering of high-level Korean businessmen on the sidelines of the exhibition, H.H. Sheikha Lubna said, “With regard to freezones, UAE has surpassed other countries in the region by establishing state-of-the-art infrastructure and a robust regulatory framework and working environment which offers foreign companies based in UAE freezones 100 per cent ownership and tax- free benefits. These factors have proven to be a mandate for foreign direct investment.”

Al Fajer’s participation in the exhibition closely follows the recent visit of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, to Korea to strengthen bilateral ties.

“The entire region is going through an exceptional growth cycle. What sets Dubai apart is its visionary leadership to invest tens of billions in infrastructure, definitive industrial zones, state-of–the-art airports, logistics hubs, developments that support tourism, entertainment and leisure industry, convention and exhibition centres, healthcare and education infrastructure. In developing infrastructure, Dubai has an iconic reputation globally,” pointed out Dr. Shahram.

“There is great potential for investment opportunities which both Korea and UAE can benefit from. As we all know real good opportunities do not last forever. My message in this context is irrespective of Al Fajer Properties and the investment opportunities we are offering you today. I am certain that investing in any project in Dubai is guaranteed to get you a much better return on investment than Europe or North America,” he added.