|12-21-2014, 10:11 PM||#1|
Dubai Properties to expand Remraam project
Dubai Properties awarded an ED541 million ($147.3 million) construction contract to expand Remraam community project to respond to the recent rising demand for affordable housing.
The expansion is awarded to Engineering Contracting Co (ECC) and consist of an 18-building extension of the Dubailand community and is to be completed by next year.
"Our aim at DP is to develop projects that meet the needs of the market," said Mohammed Al Habbai, chief officer for urban planning and infrastructure at Dubai Properties Group.
"With the current increased demand for residential properties in the mid-income sector, and giving Remraam`s popularity in this particular segment, these additional building units are designed to respond to the needs of the population," he added.
Although the United Arab Emirates lost its top-expat destination rank, the real estate sector in Dubai continues on booming, with the high-tech and luxurious malls and residential units.
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