By Diana Milne
Iris has been launched as a new brand in Dubai's real estate arena.
Iris has been launched as a new brand in Dubai's real estate arena. The announcement was made today by Sheth Estate (International) Ltd, a construction and property development company headquartered in India. An impressive AED1.5 billion has been injected into the first two of Iris's announced ventures - Iris Blue and Iris Bay.
Iris Blue is a luxurious residential tower strategically located within Dubai Marina scheduled for completion before end of 2007. Iris Bay, a half-moon shaped signature commercial building, is located at Business Bay, facing Sheikh Zayed Road.
"The new brand brings a wealth of experience to Dubai market," said Vimal Agrawal, Iris General Manager. "We are the first stand-alone foreign developer in Dubai. We migrate the knowledge and expertise of 21 years in the Asian market to the emerging Dubai market. We will deliver our projects as planned thanks to Dubai's existing robust infrastructure and encouraging freehold laws."
Sheth, the developer of the Iris brand, is India's leading construction house that has built some of the country's largest townships, complexes and high-rise towers. Sheth's accomplishments span over 10,000 homes built, 50 projects completed and 614,000m
developed. Over the years, Sheth has built a strong reputation as the most customer-focused and quality-conscious development house in its market. This unmatched high-end track record has gradually built a strong and lasting bond of trust between the corporation and its customers.
"We will continue to count on our customer-driven philosophy to offer Dubai residents and businesses the unique blend of best locations and quality building solutions within our honored tradition of timely delivery," added Vimal.
With more ambitious projects are coming up, Iris aims at securing a considerable market share in Dubai's booming property sector prior to the end of 2007. The third project of Iris is being finalised, featuring a spectacular location on the Cultural Village. Construction will commence this year and all project details will be revealed later.