Dubai's property market is showing further signs of recovery
with a string of new jobs and development being declared.
Dubai property business Deyaar has announced two new
developments this year. CEO Saeed Al Qatami said that one of the new projects
will be an AED500 million residential development within the emirate's Business
Bay district.
Al Qatami did not give any information on the next project,
but said the developer now has a property bank of around a million square feet
in Business Bay and in addition it looking at resuming work with some of its
own projects that were stopped during Dubai's 2008 real estate crash.
There have been numerous projects placed on hold following
the disaster and now we will begin bringing those projects straight back,' he
said, without specifying which projects.
Deyaar, the next largest property business on the Dubai property
market, will even establish sales of its own Central Park residential project
in Dubai International Finance Centre after summer.
Emaar, the emirate's largest listed developer, has started few
significant new projects already in 2013. The developer can also be one the
master planners behind Mohammed Bin Rashid City, an enormous project that'll
comprise the world's biggest retail center and more than one hundred resorts.
'With The Hills we're broadening our Emirates Living portfolio
offering homes which are recognized by their own sustainability features as
well as their notable golf course views. The Hills will explain a brand new,
relaxing lifestyle for residents, who are able to also get all lifestyle
amenities in close proximity,' said Ahmad
Al Matrooshi, managing director of
Emaar Properties.
'The launching of The Hills also highlights the robust
demand for top notch residential Dubai property, with demand from investors all
over the world,' he added.
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