His Highness Sheikh Maktoum bin Hasher Al Maktoum appointed as President of Al Fajer Properties.

* His Highness Sheikh Maktoum lands major investment deal with Kulczyk Investment House

DUBAI, United Arab Emirates -- Sheikh Maktoum bin Hasher Al Maktoum, founder of A1 Grand Prix, Chairman of Dubai International Holding Company (DIHC) and CEO of Al Fajer Group (AFG) has been given a new

Upon his new appointment as President of AFP, Sheikh Maktoum is pleased to announce the first significant European investment partnership in the Dubai commercial property market following a signing with Kulczyk Investment House (KIH).

The initial investment of AED 225 million will be through a Real Estate Investment Partnership (REIP), an innovative investment concept created by Sheikh Maktoum and Mr. Manoj Narender Madnani, Managing Director, KIH, Dubai.

This is one of the first REIP transactions made possible by Sheikh Maktoum for KIH in the region. Sheikh Maktoum will be giving KIH the opportunity to invest in the Jumeirah Lake Towers community through his world class Al Fajer Properties project 'Jumeirah Business Centre Towers' the regions first branded office chain, a wholly owned subsidiary of the Al Fajer Group.

Commenting on the alliance, His Highness Sheikh Hasher Maktoum, Chairman of Al Fajer Group said: "Al Fajer Properties has posted significant growth in the Dubai's real estate market and I am confident that with the expertise and experience of my son, Sheikh Maktoum, CEO of Al Fajer Group, the company is poised to be a global entity."

Commenting on the partnership, Sheikh Maktoum thanked his father for his diligent efforts in growing the company (AFG) within the last 40 years into a nationally recognizable brand name with a myriad of services throughout the UAE. He was further quoted as saying: "Al Fajer Properties primary focus is to create investment opportunities in the region given the current market volatility in Europe and North America for investors abroad. This, coupled with the increase in the price of oil, has created significant market liquidity in the region making the Middle East a safe haven for investment within the real estate sector. The significant increase in petrodollars has also given us the ability to begin considering unlocking value in current assets and exploring new international opportunities in Europe and N.America as well. Al Fajer Group is delighted that KIH has chosen us as their preferred partner in not only investing in existing Al Fajer Properties, but also in exploring the wealth of opportunities in this rapidly developing sector across the region."