Headed up by Yousuf H. Sharaf, the new unit has been set up at a time when Dubai is seeing its real estate market growing rapidly with many stalled projects being started up again. Dubai General Properties will take up a mixed-use project in Dubai Maritime City, with construction expected to be completed in three years, according to Gulf News. “Dubai is on the verge of an important stage that will contribute to the real estate investment map in the emirate,” said Sharaf.
Apart from Dubai, the promoters consider India and Egypt to be investment destinations for its projects. “The new company is looking at a number of markets by setting strategies with international companies which concentrate on the Indian market,” said Sharaf. “The new company is aware of the Indian property market’s potential. The Indian market is massively strong and can absorb more investment.”