Mizin, a member of Tatweer, yesterday said it has sold out the third phase of its Remraam community.
"Our primary focus at Mizin is to identify customer needs in the market, and to develop standalone projects that cater to those needs. Remraam's unique proposition that combines upscale living with value for money is testament to our new approach in real estate development. The record sell-out of Remraam's three phases also validates the phenomenal confidence customers have in our developments," Sami Al Hashimi, Vice-President, Mizin, said in a statement.
Remraam is located in Dubailand adjacent to Bawadi Boulevard and Arabian Ranches. It will be a self-contained community, offering a range of sporting and spa facilities, a dedicated community mall with restaurants, retail and entertainment outlets. In addition, it will also feature children's nurseries, landscaped parks, walkways, open areas and facilities, which will represent nearly 85 per cent of the total area of the project.
Construction on the 23.5 million square feet development has commenced and the Remraam Community will be ready for occupation in fourth quarter of 2010.
Two contracts worth Dh6 billion have been awarded to contractors on the Remraam Community residential project in Dubailand, earlier reports said.
The first contract, worth Dh3bn was awarded to the Dubai Civil Engineering for the construction of 100 apartment buildings, while Abu Dhabi-based Al-Ghafly bagged the second package of 100 buildings worth about Dh3bn.
The firm's previous projects include the 13 million sq ft Liwan project, the 19 million sq ft Arjan development, and the 16.5 million sq ft Majan development.