Memon to launch 10 new realty projects

Memon Investments, a Dubai-based property developer, yesterday said it plans to launch ten projects collectively valued at Dh2.5 billion in the second half of 2008.

The developer has identified major master developments in Dubai, including Jumeirah Village South, Dubai Sports City and Mizin as locations for its new projects, which will include luxury residential, commercial and mixed-use developments.

The company has registered for the escrow accounts with the Commercial Bank of Dubai.

"The emergence of high profile developments in Dubai, which are getting global acclaim signify the emirate's progress, and as a leading developer we are in the position to seize this opportunity," said Ahmed Shaikhani, managing director, Memon Investments.