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Al Fajer Properties

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Al Fajer Properties, L.L.C.
Company typePrivate
IndustryReal estate
FoundedUAE 2004 (2004)
Headquarters
Dubai, U.A.E.
Key people
Sheikh Hasher Maktoum Al Maktoum, Mubaraka Eisa
WebsiteAl Fajer Properties

Al Fajer Properties, L.L.C. (AFP), was established in 2004 as a wholly owned subsidiary of Al Fajer Group (AFG) founded in the year 1970. The company provides property development services throughout the United Arab Emirates (UAE), including at the Jumeirah Lake Towers Community, which consists of 5 commercial towers.[citation needed] The company has also been associated with the Jumeirah Business Center (JBC) series of commercial towers in the Jumeirah Lakes Towers (JLT) free zone.[citation needed]

History

Al Fajer Properties (AFP) was established in November 2004 as a wholly owned subsidiary of Al Fajer Group (AFG).[1] The property company acquired a "land bank", including within the Jumeirah Lake Towers development, and commenced construction of a number of commercial towers within the development.[1]

As of 2009, Al Fajer Properties had its main office on level 43 of the Jumeirah Business Centre 1 in Jumeirah Lake Towers Dubai, UAE.[2]

In January 2009 the company was the subject of media coverage relating to claims of misleading selling practices.[3][4] Later in 2009, American business magazine Forbes reported that Al Fajer Properties was undertaking a "restructuring of its operations".[5]

By late 2017, Al Fajer Properties was no longer included on a list of subsidiary companies on the Al Fajer Group website.[6][7]

Key people

Sheikh Maktoum Hasher Al Maktoum took over as Al Fajer's CEO in 2008. He is the son of His Highness, Sheikh Hasher Bin Maktoum Al Maktoum, the group's president. Since that time some of his activities have included being one of the founding investors of Virgin Megastores in the UAE followed by the creation of the global brand “A1 Grand Prix.”[8] Sheikh Maktoum Hasher Al Maktoum was awarded the 'CEO of the Year' honour in the property sector for the Mena region for his restructuring of Al Fajer Properties resulting in a turnaround of the company and the delivery of its flagship project.[9]

References

  1. ^ a b "Press Release - Al Fajer Properties to Take Legal Action against Customers in Default". 16 January 2011.
  2. ^ "Press Release - Al Fajer Properties Releases Progress Report". 30 June 2009.
  3. ^ "Dubai property scandal claim emerges amid media blackout". The Independent. 28 May 2009. Retrieved 28 January 2020.
  4. ^ "Probe into Dubai $100m fraud allegations". The Financial Times. 11 January 2009.
  5. ^ "Desert Storm In Dubai". Forbes. 3 March 2009. Retrieved 28 January 2020.
  6. ^ "Companies (Jul 2017) AFP is listed". alfajer.com. Archived from the original on 23 July 2017.
  7. ^ "Companies (Nov 2017) AFP is not listed". alfajer.com. Archived from the original on 9 November 2017.
  8. ^ "Al Fajer Properties completes five towers, 200 floors in one year". ameinfo.com. Archived from the original on 2011-06-07. Retrieved 2010-11-18.
  9. ^ "Al Fajer CEO wins Mena 'CEO of the Year' award in property sector". ameinfo.com. Archived from the original on 2011-08-22. Retrieved 2010-11-18.
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