UAE developers to start work on Cityscape projects

UAE developers are no longer merely announcing projects at realty exhibitions; they are now ensuring work starts on them at the earliest.

Union Properties, a Dubai-based developer, will commence construction on phase 3 of Green Community in Dubai Investments Park (DIP) by January 2015 with completion expected by June 2017, a company spokesperson told Emirates 24|7.

“We had unveiled the phase 3 of Green Community, DIP, at Cityscape 2014. However, we plan to do an exclusive launch once construction starts, which is expected in January 2015,” the spokesperson added.

Phase 3 of Green Community will feature 210 residential villas and will include 22 duplex apartments.

“We will issue the tender for the main construction during this month,” the spokesperson said.

The project has been designed by Dewan Architects and Engineers, a Dubai-based firm.

In September, Union Properties, listed on Dubai Financial Market, launched three projects worth Dh2 billion, which included launch of Dh1.1-billion The Vertex, a five-tower project, in MotorCity, Dubailand.

Work on the project will start next year.

Mamsha Al Saadiyat

Similarly, Abu Dhabi’s Tourism Development & Investment Company (TDIC) will commence work on Mamsha Al Saadiyat, a 1.4 kilometre beachfront mixed-use project in Saadiyat Cultural District, by year-end, a company spokesperson told Emirates 24|7.

“We will issue the tender for main construction work by year-end as we aim to complete the project the first phase by 2017,” the spokesperson added.

The project, comprising 414 apartments and 47 townhouses, will be built in two phases. No details of completion of phase two were given.

Comprising five clusters, each approximately 250m long, the development will feature nine low-rise residential buildings, including apartments and townhouses.

The architect of the project is RTK.

Dh1.2 trillion

In August, EC Harris, a consultancy firm, said the value of announced and planned construction projects in the UAE is expected to hit Dh1.2 trillion ($315 billion) in 2014.

Driven by a number of mega projects and increasing social infrastructure spend, the construction market in the emirate is expected to return to near full capacity, the consultancy added.

A recent report by Ventures Middle East, a UAE-based consulting company, said projects worth $128.46 billion are likely to be completed across the Gulf Cooperation Council (GCC) by the year-end.

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