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Date: 17/12/2008

La Fontana real estate development breaks ground in Dubai

Triveni Builders and Promoters Ltd (TBPL), a Dubai-based real estate developer wholly-owned by the Triveni Trading Group, has broken ground on its Dh100 million worth residential building, La Fontana. La Fontana is a 6-storey low-rise building located in the Arjan Master Community in Dubailand. Strategically located within close driving distance to the Mall of the Emirates, the Gold and Diamond Park and the Global Village, La Fontana offers prices from Dh498,600 for studios to Dh1,315,900 for 2-bedroom apartments.

Ashok J. Galgotia, CEO, Triveni Builders and Promoters Limited, said, "We are very pleased to have genuine end users as our buyers who look at La Fontana as a sound and a long-term investment. The construction has begun and we shall work continuously to ensure timely completion of the project by mid of 2010 despite the current slowdown in the real estate market."

La Fontana is part of the Arjan Master Community that includes residences, schools, parks, hotels, offices, retail and community spaces designed for leisure pursuits. The real estate development offers a range of finance options to individual buyers and investors in cooperation with Mashreq Bank and HSBC, for conventional financing, and Badr Al-Islami Bank, for Islamic financing.