We typically acquire land banks in undeveloped areas at nominal cost and add substantial value by building residential real estate and all other facilities in stages. The primary focus of our real estate business is to develop integrated towns. Each town hosts a wide range of properties, ranging from one-bedroom apartments to private villas on man-made islands. To ensure the quality of offerings within our towns, we generally retain ownership of the commercial properties, generating a steady stream of annual cash flows.
The operating cycle of real estate construction starts when we enter into agreements to sell the real estate off plan and the buyer has the right to adjust the interior architecture. From desalination plants and paved roads to the highest specification luxury property, construction projects cover all facets of our business.