Financial downturn has brought about significant changes to business models, says MD
UAE-based The Shaikhani Group has launched Shaikhani Developments, a new property developer, contractor and project management company.
The company will offer a range of services within real estate development, construction and project management across residential, commercial, and mixed-use projects within the UAE.
“The global financial crisis has tested the resilience of the UAE property market, and although the country is yet to completely break out from the clutches of the credit crunch, this phenomenon has underlined the inherent strength of its economic foundation and has brought about significant changes to business models and processes. The launch of our new subsidiary is a testament to our strong confidence that the UAE is headed for an outstanding recovery,” said Shaikhani Developments managing director Rizwan Shaikhani.
He added that the group had studied current market trends and had based plans on its observations.