Dubai 'La Maison' tower is revived as new funds chase opportunities. Overseas investor set to pump in Dh500m plus to mega-project on track
Dubai , Dubai
19 February 2021, 12:00 AM
28 February 2021, 12:00 AM
Another Dubai skyscraper project gets back into construction mode.
The ‘La Maison Tower’ in Business Bay launched construction in 2016, but got stuck after the piling and shoring works were done. Now, a new investor is joining hands with the developer – HDS - to infuse fresh funds into the prestige development and get it rolling again.
More details of who the new investor is are awaited. It is believed that the investor is based overseas and has had prior exposure in Dubai’s real estate.
It is likely to be a three-year development once construction re-starts. It’s not known whether any of the design or other facets will be revised. But informed sources say that it’s highly unlikely there will be much to change on the 105-storey structure that will rise to 365 metres.
The project revival will also happen on a clean slate – there were no offplan apartment sales done at the La Maison ever.