Dubai developer Omniyat has announced that it plans to launch three “mega-projects” worth Dhs3.5 billion during the upcoming property show, Cityscape Global 2014, in Dubai.
The group’s main showpiece at the event will be ‘One at Palm Jumeirah’, a project being developed in collaboration with Drake & Scull International.
The luxury residential project will be designed by architects Soma from New York, Super Potato from Japan and Vladimir from Lebanon. It will offer 360-degree views of the area, with apartment sizes ranging from 2,500 to 20,000 square feet. Enabling works are due to commence within the next two months, the company said.
In a statement, Omniyat also confirmed that the other two new projects to be unveiled would be located in Dubai Maritime City and Downtown Dubai.
Mahdi Amjad, executive chairman and CEO of the Omniyat group, said: “All three projects boast outstanding locations – on The Palm Jumeirah, Dubai Maritime City and Downtown Dubai, as we believe that location holds the key in Dubai’s highly competitive real estate market.
“Our project in Dubai Maritime City will be conceived as an imposing landmark while the third project will be a spectacular twin tower in Downtown Dubai in the vicinity of The Dubai Mall.
“Our focus now is to offer excellent residential options to suit all those interested in the rapidly growing real estate industry in Dubai,” he added.
Omniyat, which had to suspend Dhs8 billion worth of projects during the property crash in Dubai, has recovered since then – in line with the emirate’s booming real estate market – and unveiled projects such as The Opus and The Pad last year.
Amjad said: “We are positive that these three upscale projects will generate massive interest from investors and end-users.”
Developers across Dubai including Nakheel, Damac, Emaar and Meraas have been launching a spate of new projects in recent months to cash in on growing demand in the market.
The upcoming Cityscape exhibition, which runs from September 21- 23, is also expected to see the unveiling and launch of several new developments across the city.