Memon Investments has planned to hand over five projects worth more than Dh600 million in the next five months and is also planning to launch five new projects worth Dh660 million before the end of 2014, managing director Mahmood Shaikhani told Khaleej Times during an interview.

Founded in 2007, Memon Investments is a subsidiary of Shaikhani Group, which is a multibillion dollar international business conglomerate that has delivered more than 30,000 units across the globe and currently maintains presence in 90 countries spread across Asia, Africa, Middle East and Europe.

“At the moment we are doing Dh1,000 million worth of total 11 projects. Five projects are in Sports City and one is in Dubai Silicon Oasis. In addition, five are upcoming projects in Jumeirah Village,” Shaikhani explained the details.

Out of total eleven projects, six are old projects launched in 2007 and five are new projects — all hotel apartments, he said, adding: “We will be brining one million square feet space in hotel apartment by the end of 2014.

“Last year we re-stared work on our Sports City projects and this year our plan is to deliver four projects. One of them is almost ready for handover,” he informed.

Dubai Sports City is more than $4 billion mixed-used development, spread of 50 million square feet. It’s the world’s first integrated purpose-built sports city.

He further explained that projects expected to be delivered this year include Champion Tower 1,2, 3, 4 in Sports City and Cambridge Business Center in Dubai Silicon Oasis. “We are talking about 827 units from studio to 3 bedroom apartments in addition to 119 small, medium and large offices,” he explained. Providing the details of the five hotel apartments, he informed that there will be altogether 580 units.

Pakistan operations

Established in 1978, Pakistan’s leading real estate development and contracting company was formerly called: “Memon Group of Companies. Memon Real Estate, one of the group’s company, maintains key projects across strategic locations like Karachi, Islamabad, Rawalpindi, and Gwadar.

Shaikhani said that real estate market in Pakistan is also doing well at the moment. “Punjab market is good but Karachi market depends on law and order situation,” he explained. The group is working on three major projects in Karachi, which is the biggest city in the country and also its financial hub.