Balli Real Estate pursues ambitious expansion in the Middle East
Balli Real Estate raises profile by continuing to pursue new opportunities in Middle East, as part of $3.5+ billion of real estate expansion plans
[USPRwire, Fri Sep 26 2008] Balli Real Estate, the property investment and development division of Balli Holdings, is raising its profile in the Middle East as part of a $3.5+ billion property development and investment portfolio expansion strategy.
Balli Real Estate is the property investment and development division of Balli Holdings and has a portfolio of over $3bn under management. This is comprised of over 900,000 sq ft of property under development with a gross development value (GDV) of some $800 million, and an additional 2 million sq ft and a GDV of almost $2.5 billion in the pipeline.
In addition to its real estate operations, Balli's operations extend to steel trading, commodities trading, logistics, project and trade finance solutions.
Balli Real Estate has already invested in four major residential and mixed use projects in the UAE, under the Peacock Ventures brand, with a total of over 1,000 luxury residences. These include properties in the sought after Culture Village district and the prestigious Waterfront precinct.
As part of the drive to expand its portfolio of projects, Balli is now seeking more real estate investment opportunities in the region provided by developers, agents and landowners. As part of this, Balli Real Estate is sending a senior team to Cityscape Dubai 2008 (6th-9th October) to identify and review investment and development opportunities in the region. Balli's representatives are looking forward to discussing its current and ongoing plans with its existing partners and to developing new relationships with other leading players in the real estate industry.
Vahid Alaghband, Group Chairman of Balli Group commented: "Balli Real Estate is a business that is growing rapidly and real estate represents a central pillar of Balli Group's expansion and diversification strategy. We have found Dubai to be highly profitable and, as part of the Group's commitment to identifying and capitalising on lucrative opportunities across a variety of industries and markets, we will continue to expand Balli Real Estate's and Peacock Ventures' operations in the Middle East and beyond in 2009."
Hassan Alaghband, Director at Balli commented: "CityScape affords us the opportunity to inform and update the industry on Balli Real Estate's ongoing and forward looking activities. In light of the significant returns the Group has enjoyed from our existing portfolio of investments in the Middle East and the impending establishment of our Dubai-based property fund, we are looking forward to using CityScape as a venue to meet with existing and new joint venture partners, developers, agents and contacts as well as potential investors wishing to take advantage of the market opportunities that the region undoubtedly presents."
About Balli Real Estate
Balli Real Estate is the UK-based, internationally-focused real estate investment and development subsidiary of Balli Holdings - and leverages Balli's global presence and local expertise to underpin its growing Global real estate activities.
About Balli Holdings
Balli Holdings, established in 1982 and headquartered in London, is one of the UK's largest privately held multi-national corporations. Its affiliate companies deliver market leading solutions in industries that include project and trade finance, commodities trading, logistics, risk management, aviation, manufacturing and real estate. Balli operates through a global network of offices in key economic and business hubs in over 20 countries.
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