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Dubai Prop to handover 5,000 units in 2008

Dubai, February 6, 2008

Real Estate developer Dubai Properties is set to launch and handover 5,000 commercial, residential, and retail units from across its diverse portfolio of projects this year.

In addition, Dubai Properties will be opening 100 outlets at The Walk at Jumeirah Beach Residence by April 2008, said a company official.

'Some of the initial outlets to open 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,' said Mohamed Binbrek, Dubai Properties chief executive officer.

'Apart from developing unique communities, we are 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,' he added.

“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,” Binbrek observed.

He said the company was leasing 2,568 out of the 2,611 units available across 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 5,028 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, Binbrek observed.

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.-TradeArabia News Service




Tags: Dubai Properties | Leasing | launch | portfolio | Handover |

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