Deyaar to develop & manage National Bonds' real estate projects in Dubai
National Bonds, the national saving scheme of the UAE, has announced the signing of an agreement with Deyaar, the region's fastest growing real estate company, to transfer the development and management rights their property projects in Dubai, Skycourts and Flamingo Creek, to Deyaar. Under the terms of the agreement, National Bonds will continue to own these real estate projects while Deyaar will manage the project construction and sales operations for Skycourts and Flamingo Creek.
Mohamed Qasim Al Ali, CEO, National Bonds, said, "With the contribution of expertise provided by Deyaar, which currently manages more than 16,000 residential and commercial units, Skycourts and Flamingo Creek homeowners will benefit from enhanced development and property management services".
National Bonds' real estate projects include Flamingo Creek, part of The Lagoons master development at Dubai Creek. It will comprise 244 villa-style apartments and freehold townhouses and expected to be complete by 2010. Skycourts is a pioneering freehold residential development in Dubailand Residences Complex on Al Ain Road. It comprises of more than 2,300 luxurious yet affordable apartments. The first units at Skycourts are scheduled for delivery in summer 2009.
