Dubai / Emirates Business
Taking advantage of the region’s largest gathering of real estate professionals, developers took to the halls of the Dubai World Trade Centre to announce and showcase projects worth billions of dirhams.
Out of the 300 companies at Cityscape Global, five local developers have exhibited projects worth a total AED38.7 billion ($10.54bn) making up a large portion of the total value of projects onsite.
With the value of many of the announced projects expected to come to light in the coming days, the running tally is projected to grow substantially.
Nakheel’s Dragon Towers is a twin building high-rise apartment complex that offers
one and two-bedroom units starting at AED449,000. With a total development value of AED713 million, the project will be built at Dubai’s rapidly-expanding Dragon City mixed-use community.
Featuring more than 14,000 units, Aldar’s Alghadeer is a AED10 billion master-planned development located on the border of Abu Dhabi and Dubai.
Announced on the opening day of Cityscape Global, the Central Hub, designed by Zaha Hadid Architects, is the focal point of Arada’s AED24 billion lifestyle destination, Aljada.
Binghatti’s total portfolio of available projects, which includes the recently announ-ced Millennium Binghatti Residences (AED400 million) as well as Binghatti Stars (AED250 million) top a value of AED1.5 billion.
Part of Dubai Motor City’s phase two development plans, Union Properties’ Avenue District is a mixed-use lifestyle destination announced on the opening day of Cityscape Global. Valued at AED2.5 billion, Avenue District will offer over 300 residential units as well as a state-of-the-art 100,000sqft BMW and MINI showroom.