Master developer Dubai Properties Group (DPG), a member of Dubai Holding, yesterday announced the launch of Dubai Communities Ventures (DCV) as a subsidiary of Dubai Asset Management, one of the six companies under the newly formed holding company.
Mandated to create concepts that directly address the demands of home-owners and families living within DPG's exhaustive portfolio of residential developments, Dubai Communities Ventures will establish user-friendly amenities such as schools, recreation centres, retail spaces and other areas that add holistic value to community living.
Mohamed Binbrek, CEO, Dubai Properties Group, said: "DPG is committed to redefining the profile of value-added communities. Establishing Dubai Communities Ventures marks a natural progression of the recently formed holding company's expansion plans for ensuring a better tomorrow.
"Our consumers and investors can now bank on a concept that immediately addresses the legitimate concerns of home owners and families for premium educational, healthcare, recreational, leisure, sports, and retail facilities."
Abdul Rahman Al Hashimi has been named Managing Director of Dubai Community Ventures, responsible for conceptualising and implementing community-specific amenities that suit the size and distinctiveness of each residential development under the DPG umbrella.
Al Hashimi said: "Joint research studies by the Dubai Community Ventures' team and external expert consultants will be undertaken to gain insights into the demographic profile of upcoming communities for conceiving tailor made solutions.
"To date, the expected number of residents at the developments within Dubai Properties Group has exceeded half a million, with more than 150,000 of them children. This age bracket will have specific needs and we will consider it our top priority to cater to their needs, specifically in education and healthcare."
Dubai Communities Ventures is in negotiation with world-class academic institutions to provide high-level education at the communities it will service. In this regard, Dubai Properties Group will closely collaborate with Knowledge and Human Development Authority, an entity of the Dubai Government, to plan, develop and run premium educational facilities across its community projects.
Dr Abdulla Al Karam, Chairman of the Board of Governors and Director General of KHDA, said: "With the timely launch of Dubai Communities Ventures, Dubai Properties Group has taken a proactive stance to improve our communities. KHDA will work closely with Dubai Properties Group to successfully realise the new entity's long term goals."
Dubai Properties Group is a pioneering community developer that offers integrated and holistic services in real estate, retail, and hospitality and lifestyle management. The existence of educational, recreation and retail facilities within its developments will ease the need for families and children to commute to other areas, thereby mitigating traffic and congestion issues.
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