- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
Dubai:A triple alliance between developers will see launch of a new project in Dubai in September. The plan is to develop a mixed-use community that will have 2,000 residential units, dedicated retail space, an office complex and a hotel. The location has not been revealed.
The developers involved are Aristocrat Star Real Estate Development, PAL Developments and Pacific Ventures.
In the current upturn, off-plan projects have been dominated by master-developers. But with the market stabilising, others are entering the fray. The Danube Group has just launched a cluster in Al Furjan which will develop more than 100 houses at prices of Dh2.5 million and over.
Pacific Ventures, set up in 2011, has existing projects — Burj Pacific and Pacific Village — in Dubai.
“Delivering sound investment opportunities packaged within a sense of community was the vision that inspired us to venture into real estate development in the first place,” said Osman Valli, chairman of Aristocrat Star. “Our upcoming project promises to be just that.”