DMCC and Danube properties partner to launch USD 545 million residential project in thriving JLT district – Business – Real Estate

DMCC – the world’s flagship free zone and Authorities of Dubai Authority on commodities commerce and enterprise – has partnered with Danube Properties to convey a brand new residential venture to its thriving Jumeirah Lakes Towers (JLT) district.

 The 65-storey twin towers will convey 1,200 new residential items to JLT throughout a built-up space of 1.7 million sq. ft, representing a improvement worth of roughly USD 545 million (AED 2 billion).

 Presently within the design part, the brand new residential towers will sit adjoining to DMCC’s Uptown Dubai district, bolstering JLT’s standing as one of the standard mixed-use communities within the emirate.

 Ahmed Bin Sulayem, Govt Chairman and Chief Govt Officer, DMCC, mentioned: “Demand for premium residential property throughout the JLT neighborhood is larger than ever, as now we have seen with the resounding success of Viewz, our first venture with Danube which is absolutely offered. Boasting a neighborhood of over 100,000 folks, JLT has turn out to be one of the standard districts in Dubai because of its actually full providing for guests, companies and residents. We’re proud to accomplice with Danube for a second time as we proceed to form and drive the transformation of JLT and improve the high-quality residential providing for our increasing neighborhood.”

Rizwan Sajan, Founder and Chairman of Danube Group, added: “As a quickly increasing personal actual property developer within the UAE, we’re continuously looking for prime plots in strategic improvement zones. This partnership with DMCC empowers Danube Properties to reinforce the attraction of our upcoming venture, offering a chance for buyers and homebuyers to capitalise on future worth appreciation because of JLT’s engaging location and the help of DMCC.”

 
This partnership follows on from one other DMCC-Danube venture launch in January, Viewz, which sits in Cluster Okay and has a improvement worth of AED 1.4 billion. The 2 high-rise towers of the event have been absolutely offered, demonstrating the continued demand for premium property choices throughout JLT.

 
All through 2023, DMCC partnered with 5 main property builders to convey six thrilling industrial and residential actual property tasks to its JLT and Uptown Dubai communities. The continual improvement of its districts is a key precedence for DMCC because it attracts file numbers of recent firms to Dubai by means of its unparalleled enterprise ecosystems and residential communities. DMCC at present accounts for 11% of the overseas direct funding (FDI) to Dubai.
 

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