Jumeirah Park Pavilion is a 10,6000 square metre retail facility and will cater to residents of the Jumeirah Park, Jumeirah Islands and Jumeirah Village communities.
A banking source aware of the talks said that Meraas was looking to ‘front-load’ its debt plans so that it raised as much cash before construction began on its projects.
The tower, located in Marina Square on Reem Island, comprises 202 units that are ready for handover.
The project consists of three towers, out of which two are residential buildings while the other will comprise of hotel apartments, the developer said.
Called ‘One at Palm Jumeirah’, the luxury project will be designed by international architects.
Families obtaining assistance from the housing scheme are to receive state-subsidised home loans or subsidised sales of land or housing units.
Exclusive: The UAE has seen a flight to safety of wealth from conflict-ridden areas in the region, says Emirates NBD CEO Shayne Nelson.
The developer has awarded a contract worth around Dhs75 million to UAE-based Trojan General Contracting to build the complex.
The developer said that it preponed the second release of units at the AKOYA development owing to strong investor demand.
The development, called Villa Lantana, will feature 440 units including three, four and five bedroom homes.
Property to be sold by the unit includes a 75 million euro Arabic palace.
Al Khodari will build facilities at Taibah University and at Northern Borders University.
The two million square foot mall will feature a multi-screen cinema, supermarket, speciality shops and F&B options.
The new development, spread over 55 million sq ft in Dubailand, will feature residences surrounding a golf course.
Metac General Contracting has won the contract to build 84 townhouses and a new retail centre within the new development.
The state-controlled developer will repay 31 banks Dhs5.54 billion on Thursday, it said.
The new development, spread over 55 million sq ft, will include residential property surrounding a championship golf course.
Megaprojects in the pipeline and the ramping up of social infrastructure spend is boosting the market, says new report.
Dubai-based Ghantoot Road Contracting has won the contract to undertake infrastructure work in Al Furjan Phase 2.
Emiratis accounted for the largest share of investment in Dubai’s real estate market- almost double the amount invested by other GCC nationals.
The developer booked sales of $1.68 billion in the first half of 2014, up 75 per cent from a year earlier.
Hand-over of the first offices to customers in Emaar Square, a commercial development in Jeddah, is scheduled for 2016.
The hotel called ‘Suites in Skai’ had 234 hotel rooms, 234 one and two bedroom apartments and 33 penthouses for sale.
The plot spread across 55 million square feet of land is almost 30 per cent larger than Damac’s current biggest project Akoya.
Dubai’s real estate sector offers a number of medium to long-term investment options for foreign buyers, an expert says.
The contracts were awarded to subsidiaries of the interior contracting company.
The Dubai developer’s net profit was boosted by increased revenues from its malls and hospitality businesses.
The developer’s revenues amounted to Dhs149 million while total sales value reached Dhs234 million in the first six months of this year.
Revenue for the second quarter was Dhs2.19 billion, up 74 per cent year-on-year.
With 25 to 35 per cent of buyers in Dubai depending on mortgages, regulations that limit lending have been instrumental in easing the growth in luxury house prices.