Emaar floats Dawahi for 'value housing' projects

Emaar Properties on Sunday announced the launch of its new wholly-owned subsidiary, Dawahi Development, a next-generation developer of 'value housing' projects within full-service community developments.

Launched with encouragement from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, Dawahi Development seeks to become the region's leading developer of integrated communities that meet the aspirations of Arab youth and their families.

Dawahi Development will develop 'value homes' at attractive price points in key emerging markets across the Middle East & North Africa (Mena) region, while also creating robust employment and business opportunities for the local population.

Mohamed Alabbar, Chairman of Emaar Properties said the futuristic vision of His Highness Sheikh Mohammed has always been a vivid source of inspiration for numerous initiatives that underline the UAE's position as a developmental leader and highlight Dubai's positive role both regionally and internationally.

"With Dawahi Development, we are creating a new category of homes and communities that provide value to young families. This new category can be defined as the mid-price point housing," Alabbar said.

The value housing projects are envisaged as modern, full-service communities featuring the full spectrum of lifestyle amenities and utilities. Dawahi Development's communities will have educational institutions, healthcare centres, retail outlets and restaurants, community and sports centres, mosques and leisure options.