Special Features
Dubai Properties Group establishes DP as dedicated development company
To meet the growing demands of real estate investors in the region, Dubai Properties Group (DPG), the property development arm of Dubai Holding, has established Dubai Properties (DP), which will focus solely on delivering an integrated, end-to-end project development solution for the Group. The establishment of DP follows DPG’s announcement last week on its new structure as a holding company.Under its new remit, Dubai Properties (DP) will be responsible for the ongoing development of a growing portfolio of retail, commercial, residential and mixed-use projects. For all new and existing built to sell (BTS) projects, DP will manage the entire spectrum from project building to sales to handover services upon completion. The company will include structural, engineering and business development departments as well as dedicated sales, marketing and customer service. A brand refresh will also be revealed through a marketing campaign due to be rolled out in the coming months.
Commenting on the new mandate, Group CEO of DPG, Khalid Al Malik said: "Following the strong performance of our BTS portfolio and the forecast for the regional real estate industry; we made a strategic and logical decision to re-focus Dubai Properties’ (DP) remit to become a dedicated development company. This will increase our competitiveness in the market; facilitating quicker and more focused delivery for new projects, maintaining our position as one of the leading developers in Dubai’s growing real estate industry." As DPG’s dedicated development company , Dubai Properties (DP) will now be commercially and operationally responsible for developing projects including DUBAILAND’s Mudon, Business Bay Towers and Maraya Residences in Business Bay in addition to the city’s first creek-side destination, Culture Village.
Maraya Residences in the Burj Khalifa District will offer a range of luxurious apartment and penthouse options with panoramic views of Dubai. Maraya Residences will include a business centre and state of the art gym, pool and sun deck along with a variety of community retail outlets, offering residents a unique community living experience.
DP will also develop Dubai’s next iconic landmark, Business Bay Towers, unveiled by H.H. Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai. The luxurious mixed used development will consist of twin towers soaring an impressive 365 meters into the Dubai sky and will include a five star hotel, serviced apartments, apartments, lofts and penthouses.
Under its new remit, DP will continue with the development of the Mudon residential project in DUBAILAND. Located just 15 minutes from the centre of Dubai, the construction of 450 villas in phase two of the development is underway at the popular residential community, catering to the growing needs of Dubai’s population.
