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Mada’in launches the concept of ‘next generation realty’

- August 21, 2007, 1:41 pm

Mada’in Properties, a private, joint-stock real estate company, incorporated in 2006, has now announced the formal launch of the company with the concept of ‘next generation realty’ underpinning its marketing campaign.

Headquartered in Dubai, Mada’in has a paid-up share capital of AED 500 million, and its main investors include leading conglomerates in the UAE and GCC.

Announcing the launch, Mohamed Ahmed Ramadan, Managing Director, Mada’in Properties said: ‘In the Arabic language, ‘Mada’in’ means cities, and our vision is to be a builder for the cities of tomorrow. In fact, our entire positioning is futuristic and forward-looking - hence the concept of ‘next generation realty’. This is not to say that we neglect the past; rather, it means that we feel that we have gained enough experience and insight based on the past to be able to implement a paradigm shift for tomorrow’s realty’.

Indeed, Mada’in’s Board of Directors seems to be a microcosm of the history of real estate in the UAE and the GCC, with first-generation entrepreneurs, second-generation experts and third-generation professionals collectively leading the company.

Commenting on Mada’in’s current and future projects, Mohamed Ahmed Ramadan, Managing Director, Mada’in Properties said: ‘Mada’in plans to launch several projects across the GCC and in newly developing markets around the world in the coming fiscal year. Projects in Dubai are already underway including developments in Dubai Marina, Dubailand, Business Bay and Silicon Oasis. Cumulatively these projects are worth AED 3 billion. The very first of them is at the Dubai Marina while our second project is in Dubailand.’

The formal launch of Mada’in also coincides with a move to its new offices in the premium and world-famous area of Downtown Burj, Dubai. The 14,000 square foot office is the first operational office in Downtown Burj and will act as the corporate headquarters of the company.

Amongst its other salient features, is Mada’in’s commitment to lifestyle solutions that are entirely Shari’ah compliant while meeting international standards, maximizing shareholder value, respecting the environment and making innovation a new way of life.

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