Faya in Dh105m project in Sharjah

Faya Investments yesterday announced the launch of the Dh105 million Faya Business Tower in Al Majaz area of Sharjah.

The tower will consist of 26-storeys, with five parking levels and 170 parking spaces. The project is slated for completion by the end of 2009.

Faya aims to fill the gap in Sharjah's real estate sector with a range of new projects in various sectors, including the real estate sector, with special focus on developing commercial buildings to meet the increasing demand for quality and affordable office space in the emirate.

Stringent timelines have been set for the project as a measure to combat issues related to handover dates, which have become a challenge for the region's property development sector due to escalating building costs, the shortage of skilled labour and other difficulties. The project will emphasise on classic Arabic architecture and will be equipped with modern amenities and services.

Faya Investments was launched a month ago with a capital base of Dh1.5 billion. Chaired by Sheikh Tariq bin Faisal Al Qassimi, the firm hopes to make a decisive impact on the region's property market, catering to the growing demand in the realty sector.