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DP will hand over 5,000 units in 2008

By Staff Writer


Master developer Dubai Properties (DP) yesterday said it will launch and hand over about 5,000 commercial, residential and retail units from across its diverse portfolio of projects in 2008.


It will open 100 outlets at The Walk at Jumeirah Beach Residence by April. Some of the initial outlets will include brands such as Starbucks, Subway, Mothercare, Verri, Fat Face, Butlers, Boots, Damas, Jumbo Electronic, Al Rasasi, Giordano, Tips & Toes and Bata.


Another 300 are scheduled to open by the end of June, it said in a statement.

“Apart from developing communities, Dubai Properties is committed to ensuring the timely release of its completed units,” said Chief Executive Mohamed Binbrek.


“Following the enormous success of 2007, we are looking forward to a year of massive business expansion and project handovers.


“The handover of residential and commercial units, as well as the launch of new projects, will significantly meet the emirate’s escalating demand. We are delighted investors and users find high value in the upscale amenities and world-class services we consistently deliver across our projects.”


Referring to the leasing projects handled by Dubai Properties, Binbrek added: “Dubai Properties is leasing 2,568 out of the 2,611 units available at different areas in Dubai, including JBR, Cordoba Villas, Dubai HealthCare City, Al Qouz Community Housing and DP staff accommodation. The year 2008 will witness an addition of 5,028 flats and villas to Dubai Properties’ leasing portfolio in Mirdif, additional units in Executive Towers, the Office Park Building and Al Qouz Community Housing. This will bring the total number of units available for leasing at Dubai Properties to 7,600.”


In 2007, Jumeirah Beach Residence became the first freehold Dubai Properties’ project to be completed, when approximately 6,500 apartments across 36 residential towers were handed over. More than 2,000 families have moved into the apartments since then.


This was followed by the end-of-year announcement of Mudon, the Dh40 billion community that is being developed in the heart of Dubailand on 73 million square foot.

Due for completion in 2012, the project is the largest development by Dubai Properties.