• Home
• /
• Business

BSEL launches Dh2b Ajman development

DUBAI — UAE-based BSEL Infrastructure Realty yesterday launched a Dh2-billion residential project in the emirate of Ajman, according to a Press statement.

Called Jawahir Al Emarat, the project is composed of seven towers and will be constructed in Ajman's Emirates City. The towers, with 50 floors each, will be named BSEL Pearl, Fayrooz, Kahraman, Almas, Emerald, Sapphire and BSEL Ruby.

Christina Cabading, president of BSEL, said the project offers cost-effective residences of 5,000 apartments spread over eight million square feet in an area close to the international airports of Dubai and Sharjah.

"Over the years our strategy has been to offer quality-focused, cost-effective and return-oriented properties to our investors," she said. "Our endeavour is to replicate this strategy in our Ajman project which will offer superior rental yield and asset appreciation."

The company's chairman, Kirit Kanakiya, said BSEL, a subsidiary of India's BSEL Infrastructure Realty Limited, said: "We decided to enter the UAE freehold real estate after a careful assessment of the market dynamics and various options across the emirates that can maximise returns for our investors."

He said the company can buy back any purchased property with 12 per cent returns after one year.