Thursday, November 09, 2006

Dheeraj East Coast to come up with 16 projects

Dheeraj East Coast (DEC), a joint venture between India’s Dheeraj Group and the East Coast Group announced the launch of 16 projects worth $1 billion (Dh3.6 billion). DEC took off with its maiden project DEC Towers which is worth Dh300 million in Emaar's Dubai Marina. It is a twin-tower with 21 and 25-storey residential area and an L-shaped retail segment on the ground floors.

The company has managed to buy plots and is developing many projects in Business Bay, Jumeirah South Village and Culture Village. In Dubai Marina alone, DEC has six plots and its investments in this community are in the range of Dh1.5 billion. The company is ready to launch a new residential project, Marina Wharf II.

In Business Bay, DEC is coming up with three commercial towers at an investment of approximately Dh800 million. The projects will include a unique corporate tower which will be developed on 650,000 square feet and will offer single unit office space as large as 3,500 square feet. The project is also proposed to have a strong retail component on the ground floors while on rooftop with a revolving restaurant.

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