Dubai Investments, the leading, diversified investments conglomerate listed on the Dubai Financial Market, has announced that the infrastructure development of The Palisades project in Dubai Investments Park, DIP, is under way.
The mixed-use project is spread across 13 million square feet with a total built-up area of approximately 22 million square feet and offers a range of residential, retail, office and recreational attractions.
The project is exclusively managed by Dubai Investments, through the Palisades Development Company.
Dubai Investments also announced that a contract for earth works grading and leveling of the roads has been awarded to Arabtec Construction LLC. The grading work is almost 45 percent finalised and expected to be completed by September 2017.
"The master plan of The Palisades is aligned with current market requirements. The infrastructure within the project is being developed in phases at a total cost of Dh580 million," said Khalid bin Kalban, Managing Director and CEO of Dubai Investments.