Bonyan International Investment Group said it has sold out its Dh4 billion ($1.08bn) Sama Al Jadaf community project in Dubai.

The 135-plot master development, in the Al Jadaf area, is close to the Dubai airport and Dubai Festival City.

The project’s success is part of the developer’s growth amidst the emirate’s booming real estate sector, which has seen land transactions increase by 170 per cent from Dh62bn in 2006 to Dh175bn in 2007.

“The success of the project is a testament to the broadening scope of investor interest that Dubai is enjoying today, as we witness the coming of age of new territories that are being groomed to be the next important addresses in the country such as Al Jadaf,” said chairman Engineer Abdullah Atatreh.

The developer has recently launched its mega master development, the Dh3.5bn Eye of Ajman community development, which is spread over 6.27 million sqft and comprises 109 multi-purpose plots.

Strategically located along Emirates Road in the Al Hamidiyah area, the development marks the company’s first project in Ajman, which will comprise residential, office, hospitality and retail plots.

The company has also developed Rose Tower and Lulu Tower, Dubai Gate 1, Sharjah Gate and ABBCO Tower. – Trade Arabia News Service