The deal is part of an agreement by Barwa to sell assets worth a $7.1 billion to Qatari Diar.
The project includes the redevelopment of the former international airport in Hellenikon, Athens.
IMF official asks Dubai officials to look at stricter measures such as those used in Singapore and Hong Kong to cool property market.
Deyaar made a quarterly consolidated net profit of Dhs52.1 million ($14.2 million) compared to Dhs19.4 million in the same period in 2013.
The developer said its profit for the three months to March 31 was 265.1 million riyals ($72.8 million), up from 158.5 million riyals in the same period of 2013.
Ras Al Khaimah’s biggest property developer gained revenues of Dhs86 million for the first three months of the year.
Company officials previously said there might be a dual listing on Nasdaq Dubai, the smaller of the emirate’s two exchanges, and London.
The scheme allows long term investors and end users to purchase properties without pre-registration even on the launch day.
UAE developer says it is awaiting approval for the master plan of the project, which is expected to house 200,000 to 250,000 people upon completion.
The state-owned developer is focusing on developing mid-tier real estate projects in Abu Dhabi.
Much of Emaar’s growth is expected to come from projects worth billions of dollars within Dubai.
The Dubai property developer’s profit increase fell slightly below analyst expectations.
Finance ministry and ICD venture Bidaya will submit an application for a licence as soon as regulations under the kingdom’s mortgage laws are finalised.
Calls for investors in projects consisting of 27 million square metres of new prime floor space and 220,000 homes.
The waterfront development includes 225 residential apartments and a 200 room five star hotel.
The developer has launched three new projects in Abu Dhabi worth $1.4 billion, it said in a bourse statement.
The launch continues Deyaar’s move into the hospitality sector.
Emiratis invested around Dhs7 billion in Dubai property while Indians continued to be the top foreign investors with transactions worth Dhs5.8 billion.
The developer has appointed AE7 for design, supervision, architectural and engineering services.
Rising volumes of cash transactions and off–plan sales could inflate prices to 2008 levels, an expert has said.
The property developer said the net profit hike was mainly due to increased sales of developed properties at higher gross margins.
Residential rental growth is expected to continue until there is adequate supply in the market.
The new collection of Mira Oasis townhomes follows strong investor interest, said the Dubai developer.
The emirate recorded sales activities worth Dhs31.5 billion and mortgage transactions worth Dhs28 billion in Q1 2014, the land department says.
The project will include 388 serviced living units, with prices starting at Dhs625,100.
Apartment and villa rents in the emirate grew by five and three per cent respectively in Q1 2014, a new report says.
Perdana Quay, launched by Tradewinds Corporation, is an integrated leisure, retail, residential and commercial development.
The Dubai developer said it handed over 400 units during the first quarter of the year.
The UAE capital recently removed its five per cent rent cap, which is already impacting rates, says CBRE report.