Real Estate

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the expansion of Dubai International Financial Centre (DIFC), which will triple the size of the leading financial hub in the Middle East, Africa and South Asia (Measa) region. DIFC 2.

Master developer Nakheel has started the construction of a rooftop infinity swimming pool at The Palm Tower, its 52-storey, luxury hotel and residential complex coming up in the heart of Palm Jumeirah in Dubai, UAE. The infinity pool, one of the highest in the world, is perched 210 m above ground and covers 775 sq m.

Emaar has launched Palace Residences, a five-star waterfront branded residence development, within its 6-sq-km mega-development, Dubai Creek Harbour, described as ‘The World of Tomorrow’.

UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has broken ground on the Dh1-billion ($272 million) SE7EN City JLT, its first mixed-use development in Jumeirah Lake Towers (JLT), in Dubai.  Spread across 3.

UAE-based Aldar Properties has launched its newest Dh2-billion ($545 million) freehold development, Alreeman, in the Alshamkha area of Abu Dhabi.

Italy-based Preatoni Real Estate has announced the completion of Dubai Star, four years after its initial developer abandoned the multi-million-dollar project following the 2009-2010 economic crisis. The 45-storey skyscraper, which is located at the upmarket Jumeriah Lakes Towers (JLT) cluster L, has now been renamed Preatoni Tower.

Golden Gate inks escrow account deal with KHCB Golden Gate Developers, a joint venture between Bahrain-based Kooheji Golden Gate and Indian real estate groups Ajmera and Mayfair Housing, has signed a deal with Khaleeji Commercial Bank (KHCB) to offer escrow account services to investors in its premium Bahrain project.