Dh1.5 billion investment firm launched - Emirates24|7

Dh1.5 billion investment firm launched

Faya Investment, which will build real estate for lease and rental across the GCC, was launched in Sharjah with a capital of Dh1.5 billion.

The company was established with the purpose of investing in various sectors, including residential, commercial, labour accommodations, leisure and entertainment facilities, and establishing itself to meet the rising demand in these sectors due to the property boom and the recycling of petrodollars, which have resulted in record levels of economic growth throughout the GCC.

According to reports, investments in residential and commercial projects will reach Dh184bn by 2010 in the GCC, while the value of the property market is set to hit the Dh3trn mark in the next 25 years, said Faya Chairman Sheikh Tariq bin Faisal Al Qassimi."We have launched several investment companies to operate in different sectors," he said.