Global Investment House announces partnership with Kaizen Developments for AED 715 million Palm Jebel Ali project

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Global Investment House (Global) announced today that it has partnered with Kaizen Developments to develop Equinox Residences on Crescent A of Palm Jebel Ali in Dubai, UAE.

Equinox will comprise of 21 floors of residential living, offering 1-4 bedroom, duplex, and penthouse apartments.

Mr. Rakesh Patnaik, Head of Real Estate Funds at Global said, “We are very pleased with the opportunity to be working with Kaizen Developments. Kaizen has emerged as a respected luxury developer and has a proven track record of creating iconic projects across Asia Minor, the Arab Peninsula and the United Kingdom. Their Equinox Residences is an ideal example of the smart living concept and offers comprehensive unique facilities and services under one roof.”

Speaking about choosing Kaizen Developments, Mr. Patnaik said, “We have found Kaizen to be a focused, far-sighted company adhering to international best practices. Combined with their attitude towards Responsible Luxury, and their development track record, we strongly believe our partnership will continue to grow well into the future. For our first joint endeavor we are confident that the Equinox Residences will be a spectacular showcase at Dubai’s Cityscape 2008.

Mr. Amir Salam, Managing Director at Kaizen Developments stated “We are proud to have partnered with Global. Together, I believe that the success of Equinox Residences on the Palm will demonstrate the commitment both Global and Kaizen have towards achieving excellence in our business practices and partnerships. As our partners in this venture, and given Global’s prominent position within the Gulf region, their confidence in our project speaks for itself in terms of the belief they have in Kaizen and in Equinox Residences” concluded Mr. Salam.

Kaizen Developments is an established international leader in responsible luxury development. Headquartered in Dubai, operations span from the United Kingdom and Turkey to the Arabian Peninsula. Kaizen Developments continuously strives to provide better, consumer driven results through design innovation and high quality development projects.

Located in leading financial, cultural, and historical centers around the world, Kaizen’s portfolio includes commercial, residential, and mixed-use developments.

Global Investment House (Global) is a full-fledged investment company incorporated in 1998, and falls under the regulation of the Central Bank of Kuwait. Its underlying foundation is to meet the high expectations of local and international clients, and to enhance the investment service industry and the capital market in Kuwait and the region. Today, Global stock lists on the Kuwait, Bahrain, Dubai and London Stock Exchanges.

Global plays an important role in promoting investment opportunities in the MENA region to investors through expert financial engineering, in-depth research and reports to advance the capital market in the region. Thus, Global’s achievements have been recognized on local, regional, and international levels. The company’s current assets under management reached KWD2.5 billion (USD 9.4 billion) by 30 June 2008.

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About Global Investment House “Global”

Global Investment House “Global” is a full-fledged investment company incorporated in 1998, and falls under the regulation of the Central Bank of Kuwait. Its underlying foundation is to meet the high expectations of local and international clients, and to enhance the investment service industry and the capital market in Kuwait and the region.

Today, Global stock lists on the Kuwait, Bahrain, Dubai and London Stock Exchanges. Global plays an important role in promoting investment opportunities in the MENA region to investors through expert financial engineering, in-depth research and reports to advance the capital market in the region.

Thus, Global’s achievements have been recognized on local, regional, and international levels. The company’s current assets under management reached KD2.5 billion (USD 9.4 billion) by 30 June 2008.

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