Damac sees Jebel Ali project on track
Dubai, May 31, 2011
Damac Properties, a leading developer in the Middle East, said it has reached the third level of its ‘Suburbia’ residential development adjacent to the Jebel Ali free zone.
Suburbia is a low rise multi-building development influenced by Moroccan architecture offering 1, 2 and 3 bedroom apartments as well as townhouses on the ground level.
The development will also include first class facilities including a state of the art gymnasium, children’s play area and swimming pool. It is also located within walking distance of the Dubai Metro station, said a Damac statement.
The developer is rapidly progressing with construction, to ensure it is well positioned to meet increasing demand for residential apartments within close proximity to Dubai’s expanding trade and logistics hub.
'Jebel Ali is one of Dubai’s main economic growth engines; it generated more than $60 billion dollars worth of trade over the past twelve months. Logistics and trade are creating employment and that is stimulating demand for nearby housing,' said Niall Mc Loughlin, senior vice president Damac Properties.
More than 200,000 people work at the Jebel Ali Port, and of that number, currently about 80 per cent commute to work from elsewhere in Dubai, or the wider Emirates, he noted.
'We are developing our ‘Suburbia’ residential project at pace in anticipation of increased demand for residential housing in this particular area of Dubai over the next few years,' he added.
Mc Loughlin said the project is slated for delivery in 2013, and Damac is on track to meet that deadline.
'We have reached the third floor on the north and south towers of the project and are extremely pleased with the rate of construction,' he remarked.
The main contractor for Suburbia is Sharpoorji Pallonji & Company, which has been active in the Middle East for more than 40 years. The enabling works were carried out by Stromek Emirates Foundations.-TradeArabia News Service