Abu Dhabi, UAE - (Reuterus): Leading land-grab and real estate investment/development merchants SnatchCo has announced plans for its latest heist on Abu Dhabi's prime commercial land following a recent successful hit on neighboring Fujairah property portfolios.
The Ras Al-Khamiah-based corporation, formed in 2007 in a secret 'done deal' between Saudi, UAE and Colombian concerns, will focus on opportunities to spread itself about a bit on territory previously considered the sole preserve of Dubai's ruling ratpack clan the AlMcTomb-Raider family.
Abu Dhabi real estate has shot up in value during the last seven years, easily quadrupling in price since oil began its relentless upward spiral to break the psychological barrier of $100 per barrel.
SnatchCo now hopes to capitalise on Abu Dhabi's burgeoning property boom with a Dh500 billion investment underwritten by Standard & Poor's January 2007 valuations of the UK's Northern Crock Bank.
"We're going to make a megabucks fortune," SnatchCo's CEO confidently predicted today.
