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29 March 2024

Downtown Jebel Ali gets ready

Published
By Parag Deulgaonkar

Infrastructure is ready in Downtown Jebel Ali, the Dh48 billion mixed-use urban development, to allow developers to commence construction and three developers are currently working on finalising design plans for their projects there, according to a senior Limitless executive.
 
“At present, five plots are under construction by third-party developers with three more developers currently finalising their design plans,” Salah Ameen, Executive Director for Limitless in the Middle East, told Emirates 24|7.
 
Limitless, the master developer of Downtown Jebel Ali, has already developed The Galleries on eight plots, comprising six office buildings and two residential towers.
 
Asked when he expects the first residential project by a sub-developer to be handed over in Downtown Jebel Ali, Ameen said he could not comment on sub-developers' completion of project, but emphasised that they had completed the infrastructure work to allow third-party developers to construct their projects.
 
One of the projects under construction in the master development is of Damac Properties. On May 31, the developer said Suburbia, a residential development, was slated for delivery in 2013 and it was on track to meet the deadline.

Currently, Limitless is working on a completion strategy for the first phase of residential units at The Galleries. In total, the two buildings will have over 600 units.

Although the master developer had initially emphasized on sub-developers needing to commence construction within five years from plot handover date, they has now been a lot more flexible due the current market situation.

“Originally, our terms and conditions stipulated that sub developers must begin construction within five years of the handover of their plot. However, in response to market conditions, we are showing flexibility by offering extensions on this timeline, on a case-by-case basis.”

Asked if they still get developers seeking consolidation of their land, Ameen said they continue to discuss various options that will benefit both parties, on a case-by-case basis.

The master developer, however, does not rule out taking action against developers who have failed to breached their financial obligations despite offering consolidation or easy payment plans.

“We continue to be as flexible as possible with third party developers who are serious about seeing their projects through at Downtown Jebel Ali. However, in cases where, despite our flexibility and co-operation the contract is breached, we will take appropriate action,” he added.

Downtown Jebel Ali, a mixed-use urban development, consists of four zones, and will stretch for 11 kilometres along Sheikh Zayed Road. Located between the Jebel Ali Free Zone and Techno Park, it will have 326 buildings, 237 of which will be residential. The development is being built at an estimated cost of $13 billion (Dh47.7bn).