Dubai Properties Unveils Robust 2008 Roadmap
February 6, 2008
Real Estate Master Developer Dubai Properties announced today it will launch and handover approximately 5,000 commercial, residential, and retail units from across its diverse portfolio of projects during 2008.
In addition, Dubai Properties will be opening 100 outlets at The Walk at Jumeirah Beach Residence by April 2008. Some of the initial outlets to will include renowned brands such as Starbucks, Subway, Mothercare, Verri, Fat Face, Butlers, Boots, Damas, Jumbo Electronic, Al Rasasi, Giordano, Tips & Toes, and Bata. Over 300 additional outlets are scheduled to be open by the end of June.
Mohamed Binbrek, Chief Executive Officer, said: “Apart from developing unique communities, Dubai Properties is committed to ensuring the timely release of its completed units. Following the enormous success of 2007, we are looking forward to a year of massive business expansion and project handovers.
“The handover of residential and commercial units, as well as the launch of new projects, will significantly meet the emirate’s escalating demand. We are delighted investors and end users find high value in the upscale amenities and world class services we consistently deliver across our projects.”
Referring to the leasing projects handled by Dubai Properties, Mr. Binbrek added: “Meanwhile DP is leasing 2568 out of the 2611 units available at different areas in Dubai including JBR, Cordoba Villas, Dubai HealthCare City, Al Qouz Community Housing and DP staff accommodation.
The year 2008 will witness another milestone for DP in adding 5028 flats and villas to its leasing portfolio in Mirdiff areas, additional units in Executive Towers, the Office Park Building and Al Qouz Community Housing. This will bring the total number of units available for leasing at Dubai Properties to 7600 units, added Mr. Binbrek.
In 2007, the Jumeirah Beach Residence became the first freehold Dubai Properties’ project to be completed, when approximately 6,500 apartments across 36 residential towers were handed over. More than 2,000 families have moved into the apartments since then.
The successful JBR handover was followed by the end-of-year announcement of Mudon, the unique AED 40 billion community that is being developed in the heart of Dubailand on 73 million square feet. Due for completion in 2012, the project is currently the largest development by Dubai Properties to date. It will incorporate five historic cities – Baghdad, Beirut, Damascus, Cairo, and Marrakech – within one large integrated metropolis.
Dubai Properties’ diverse portfolio represents the highest quality of real estate in the region. Mixed-use master developments such as Business Bay and Mudon have been recognized globally for their ambitious charter and unique characteristics. The distinctive retail portfolio is supported by residential developments that meet the need of Dubai’s growing economy and resident population.
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Signs in yards indicate a house is for sale in this News Tribune file photo. Board of Realtors President Allan Mudd said purchasing homes locally gives buyers a“ more stable situation as compared to other areas……