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Al Ghurair Properties Invests AED 5 Billion On Dubai’s Development
(10 October 2017)

 

Al Ghurair Properties, the pioneering real estate developer managing commercial, residential, hospitality and mixed use developments, announces a new wave of projects across Dubai, as part of the company’s vision to uplift the property offering in the city.

According to reports from real estate agency, JLL MENA, as a result of Dubai’s improving economy, it is predicted that there will be an upward trajectory in the property sector. To support this momentum of growth, Al Ghurair Properties is steadily taking steps to cater to the rising demands and further alleviate the current sector.

The 5 Billion Dirham developments will comprise of 58 buildings in a sustainably built layout that will include 8,000 residential units and 350,000 square feet of retail units. The visionary projects will be developed in various areas in Dubai, including; Deira, Bur Dubai, Al Barsha, Al Qusais, and Al Warqa district. The developments aim to strengthen the socioeconomic fabric of the emirate by delivering quality living and commercial spaces.

Al Ghurair Properties, which stands for quality and smart functional residential and commercial facilities, offers practical and functional spaces with the latest fittings and amenities. Moreover, its projects are built as per the latest green building codes and come with energy efficient fittings to conserve power. The company will also offer quality amenities and maintenance services to ensure ultimate comfort and safety to its tenants.

Commenting on the launch, Sultan Al Ghurair, CEO of Al Ghurair Properties, said, “We started these projects with a focus on revitalizing the housing segment in Dubai. We identified an upward trend in the present residential market and are currently aiming to optimize the positive turn.”

“Furthermore, these projects reflect Al Ghurair Properties’ in-depth understanding of the market needs and our commitment to providing the type of residential destinations that support the creation of a healthy real estate market in the Emirate”. Concluded Mr. Sultan.

Throughout the development’s building process, Al Ghurair Properties will work closely with the finest partners to ensure the creation of top quality and sustainable destinations that meet the needs of all segments of Dubai’s growing population, and that will be at the heart of the Emirate’s continued economic growth and diversification. 

The projects’ infrastructural work began earlier this year, with the first building due for completion by the end of 2017.  The remaining 57 projects are scheduled for completion by Q4 of 2020.

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