Dubai developer Deyaar has signed a memorandum of understanding with Dubai South to build a new multi-purpose development in the master-planned city around the new Al Maktoum International airport.
The new development in Dubai South, which will be on an area of 1.27 million sq feet in the Residential District, features residential units, shops, retail outlets and hospitality facilities.
The development will be owned 50 percent by Dubai South and 50 percent by Deyaar.
Ahmed Al Ansari, acting CEO of Dubai South said: This MoU reiterates our commitment to continually expand our real estate portfolio by introducing new and unique real estate offerings to the mix and we believe that partnering with a reputable developer such as Deyaar will help us achieve our goals. More info
By Staff http://www.arabianbusiness.com/