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Deyaar awards Dhs370m contract for final phases of Dubai’s Midtown project

Deyaar awards Dhs370m contract for final phases of Dubai’s Midtown project

Deyaar is offering a flexible payment option with initial payment of 10 per cent

Deyaar has awarded a contract valued at Dhs370m to primary contractor Gammon & Billimoria for the third and fourth phase of the Midtown community.

Phase three, the Noor district, is now open for sale. Deyaar is offering a flexible payment programme that requires an initial payment of 10 per cent and offers multiple settlement plan options extending for up to 10 years. Once complete in Q4 2022, the Noor district will comprise seven buildings with studios, one, two, and three-bedroom apartments, a host of retail and F&B options, sports facilities and vast green spaces. Phase three and four will add more than 32,000 square feet of retail space to the development.

To date, Deyaar has concluded 50 per cent of the Midtown development through completing and delivering the first two districts, Afnan and Dania. Constituting a total of 13 buildings and more than 1,200 apartments, the two districts are now home to over 554 families.

Located in the up-and-coming neighbourhood of Dubai Production City near Sheikh Mohammed Bin Zayed Road, the Midtown development comprises six districts that include 24 buildings across a built-up area of almost five million square feet. With more than 2,000 units, the development ranges from studios to three-bedroom apartments.

Read: Aldar Properties’ Noya project sold within four hours of launch

Listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB), Deyaar is one of Dubai’s leading developers with real estate ventures spanning key growth corridors and prime locations within the emirate.

“We designed Midtown to not only provide residents with an ideal home but also to ensure that they could enjoy community living with all the basic amenities close to them,” Saeed Al Qatami, CEO of Deyaar said.

“After the successful delivery of the first two phases, we believe this is the right time to start construction on the new districts. We have received excellent responses, and we look forward to completing yet another top-notch district under our flagship Midtown development as we continue to deliver value to Dubai’s residents and business sector,” he added.

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