By: Ramy Sameeh

Abu Dhabi – Mubasher: Eshraq Properties plans to complete one acquisition in 2017, the company’s General Manager Abdullah Saleh Al Mahimidi. 

“We are working on acquiring a group of hotel apartments worth AED 150-160 million in Dubai Marina,” Al Mahimidi added.

Negotiations over the acquisition are expected to conclude in the first quarter of 2016, he said, adding that “we will announce details within two months”.

Eshraq is expected to launch three projects worth AED 600 million in Dubai and Abu Dhabi this year.

The company’s total projects are valued at AED 1.2-1.3 billion in the long term, Al Mahimidi noted.

Translated by: Julian Nabil