The property development joint venture set up by Nakheel together with Dubai Islamic Bank (DIB) -Tashyed, did the ground breaking for its first landmark development at Jumeirah Heights.
The lake-front development which is located on a land sourced from Nakheel, situated in close proximity to the Jumeirah Lake Towers and the Shaikh Zayed Road, is set to provide residential accommodation at the heart of New Dubai.
The project covers an area of 625,000 square feet, and will comprise 250 to 300 apartments, villas and townhouses, accommodating a population of 1000 people or more.
Work on the project is likely to commence during the first quarter of 2009.
The development is the first of its kind that the company is developing under Tashyed, and is hoped to bring about a unique prominent real estate development company in the region. The prime location of Jumeirah Heights and its lake-front setting is hoped to play a major role in the financial and commercial success of the project.
The design for the project is well under progress, and contractors are already chosen for amplification of services.
Nakheel will offer sales and marketing services, development management, and together with Dubai Islamic Bank, will supply banking, financial and mortgage services.
Social Bookmarking
     
Read more news
> Select Group awards construction of pacific project to CTC
> Survey finds UAE property market priced out
> Surging material costs may lead to drop in Gulf construction sector this year
> Dubai property sector considered attractive by overseas investors
> Lack of quality labour hinders project schedules in the Gulf region
> Air Arabia commences construction on budget hotel at Sharjah Airport
> Tashyed breaks ground for its first project at Jumeirah Heights
> Transemirates Contracting awarded with Dubai Gate 2 project
> Labor Villages of DIC 40% complete
> Nakheel introduces new workforce accommodation in Dubai
|
