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Top UAE developers showcase $10.5bn projects at Cityscape

DUBAI, October 3, 2018

Out of the 300 companies at Cityscape Global, five local developers have exhibited projects worth a total Dh38.7 billion ($10.5 billion) 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, said the organisers.

Running until tomorrow (October 4), Cityscape Global has seen developers competing for the attention of first time buyers, seasoned real estate owners and major investors with offers of attractive payment plans, fee waivers and additional bonuses on new and existing projects, they stated.

Taking advantage of the region’s largest gathering of real estate professionals, several developers are announcing projects worth billions of dirhams. These include:

* Nakheel with Dh713-million Dragon Towers, a twin building high-rise apartment complex that offers one and two-bedroom units starting at Dh449,000. With a total development value of Dh713 million, the project will be built at Dubai’s rapidly-expanding Dragon City mixed-use community.

* Aldar Properties with Dh10-billion Alghadeer project, featuring more than 14,000 units, located on the border of Abu Dhabi and Dubai. The Abu Dhabi developer is offering Cityscape Global visitors who buy homes at Alghadeer a a per cent registration fee waiver and a three-year holiday on service charges, as well as a monthly payment plan enabling customers to buy their home from as little as Dh2,700 per month.

* Sharjah developer Arada with its Dh24-billion Aljada development. Announced on the opening day of Cityscape Global, the Central Hub, designed by Zaha Hadid Architects, is the focal point of Arada’s lifestyle destination. The developer is also offering visitors the chance to purchase one of 109 semi-detached villas and townhouses in its nature-themed Sarab Community onsite at the Dubai World Trade Centre.
Arada is one of many Sharjah developers joining the freehold movement in the emirate, allowing foreigners to invest their money in the real estate industry, following a change in the law in 2014.

* Binghatti Developers with its Dh1.5 billion portfolio projects, which include the recently announced Millennium Binghatti Residences (Dh400 million) and Binghatti Stars (Dh250 million).

For sales onsite, it is offering a reduced one per cent booking fee, free interior design, zero per cent commission and an onsite mortgage approval from Mashreq Bank. Additionally, it also has an exclusive deal that allows buyers to live in a unit in an existing Binghatti project rent free until handover has been completed.

* Union Properties with its Dh2.5-billion Avenue District. Part of Dubai Motor City’s Phase Two development plans, Avenue District is a mixed-use lifestyle destination announced on the opening day of Cityscape Global.

Valued at Dh2.5 billion, Avenue District will offer over 300 residential units as well as a state-of-the-art 100,000sqft BMW and Mini showroom.

Other major developments and projects launched on the opening day of the show include Marsa Meydan by the Meydan Group, a Newport Beach-style residential and lifestyle community in Jebel Ali featuring a climate-controlled marina and waterfront villas with private pontoons, a first in Dubai.

Meraas’ Port de la Mer was also announced during the first day of the event and is set to be a beach front masterdeveloped project in the heart of Jumeirah.

Located in the Northern Peninsula of La Mer, it will offer a mix of residential suites, four and five-star hotels and a 192-berth superyacht marina.-TradeArabia News Service

Tags: nakheel | Aldar | Cityscape Global |

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