Friday, February 23, 2007

Dh.20billion residential projects to come up in DIP

Dubai Investments Parks (DIP) which is a unit of Dubai Investments has announced residential projects worth Dh.20billion to be constructed by the end of the year. This will increase the total investment value of the park to Dh.21bn.

A group of developers are planning seven major developments for construction in the DIP during the current year, with 19,392 residential units and the projects are likely to be completed by 2010.

The developments will cover a total area of 3200 hectares serving residential, academic, research and development, manufacturing and logistics and distribution purposes. The biggest new development of the Park is the Dubai Lagoon project with walkways and apartments surrounding a sapphire lagoon.

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