Al Fajer Completes Five Towers in Record Time

DUBAI — Al Fajer Properties, or AFP, recently announced completion of the superstructures for Phase 1 — five of its nine towers — in record time.

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Published: Sun 17 May 2009, 11:03 PM

Last updated: Sun 5 Apr 2015, 9:45 PM

The five Jumeirah Business Centre, or JBC, towers, once handed over, will add 2 million square feet of office space and an additional 83,000 square feet of retail space within the Jumeirah Lakes Towers, or JLT, Community. This achievement comes within the last 12 months since disbanding the old management team coupled with an extensive restructuring of the company.

The strengthening of the company’s balance sheet by Dh3.2 billion well before the global financial crisis makes AFP one of the strongest developers in the local market today, owing purely to its decisive course of action, implemented within the first 90 days of the new management team coming on board.

“We have achieved our most significant milestone to date and I am extremely pleased with the results. I would also like to thank all the various project teams involved in helping us to reach this goal since the change in management,” Shaikh Maktoum bin Hasher Al Maktoum, President of Al Fajer Properties, was quoted as saying.

· business@khaleejtimes.com

Published: Sun 17 May 2009, 11:03 PM

Last updated: Sun 5 Apr 2015, 9:45 PM

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