Wednesday, December 06, 2006

Dana Property Development to build 11 towers in iMPZ

Dana Property Development announced that will invest Dh2.1 billion to build a residential complex with 11 towers in the International Media Production Zone (iMPZ).

The construction work is expected to start in the first quarter of 2007 and is slated for completion in mid-2009.

iMPZ has signed agreements with real estate groups Damac, Fortune Group and ETA Ascon to establish residential facilities in the past. With an investment of around Dh1bn, iMPZ will be built on an area of 43 million square feet.

It offers printing, publishing, packaging and graphic arts companies with business incentives, ranging from 100% ownership of businesses to complete tax exemption as well as a specialised infrastructure.

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