Saturday, February 16, 2008

Dubai Properties to lease commercial, residential and retail units

Dubai Properties, the developer owned by Dubai government, have announced their plans to launch about 5000 commercial, residential and retail units from a vast range of projects for leasing this year.

Apart from this, Dubai Properties will open about 100 outlets at 'The Walk' in Jumeirah Beach Residence by April, including Mothercare, Fat Face, Starbucks, Subway, Boots, Damas, Giordano, Bata, Tips & Toes, and Al Rasasi. An additional 300 outlets will be opened by June, says a company statement.

The Chief Executive, Mohammad Bin Braik, said "Apart from developing unique communities, the Dubai Properties remains committed in ensuring the timely release of its completed units. Following the huge success last year, we look forward to a year of massive business expansion and project handovers."

He continued that, the commercial and residential units, and the launch of other new projects, will meet the increasing demand of the emirate. In the meanwhile, DP will lease about 2568 units out of the 2611 units, available in various areas in Dubai, including, Cordoba Villas, JBR, Dubai HealthCare City, Al Quoz Community, Housing and DP staff accommodation.

In 2007, the jumeirah Beach Residence was the first freehold project to be completed, when about 6500 apartments across 36 residential towers, were delivered, housing more than 2000 families.

The year 2008 will be another milestone for Dubai Properties, with 5028 flats, and villas, being added to its leasing portfolio in Mirdif areas, and additional units in the Office Park Building, Executive Towers, and Al Quoz Community Housing. With this, the total number of units for leasing at Dubai Properties will touch 7600 in number.

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