Indian developer Pacific Ventures launches two Dubai projects

Indian developer Pacific Ventures has announced the launch of two new real estate projects in Jumeirah Village in Dubai. The launch of Pacific Residencia and Pacific Edmonton Elm is a sign that Dubai's property market is on the path to recovery, the company said in a statement. Parvez Khan, founder, Pacific Ventures, said: "We are extremely optimistic about the real estate market in Dubai as it is an economy which cannot be allowed to fall down completely. "Everywhere in the world, the business environment is undergoing upheavals and changes, but we are confident that Dubai will always be a key investment hub for serious property investors who will appreciate the value of Pacific ventures newly introduced affordable properties." According to Khan, Pacific Ventures is a "securely funded organisation" and has the "necessary resources" to complete projects it has undertaken in the Middle East. "By 2014, we would have completed our first set of developments here in Dubai, and it will be first of many projects we envision for this market and the rest of the MENA region," he added. No specific details were given in the statement about the two new developments but the company said both would be completed within 18-24 months. He said additional projects related to tourism, education and healthcare were likely to be announced in Dubai in the future. "It makes more business sense to position ourselves now than later when the market is bound to pick up again," added Khan. Pacific Ventures is a developer of commercial, residential, and mixed-use properties which says it believes in building affordable homes for the upper middle classes.

source: http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=20772&cat_id=1