CEO says Dubai showing strong growth signs
The Dubai Property Group is increasing activity on projects as it tries to sync with demand and supply patterns in the local property market.
“We are now witnessing strong growth signs and have taken the decision to re-start work on some of our key built-to-sell projects including Bay Square in Business Bay and Mudon in Dubailand,” said Khalid Al Malik, CEO at DPG. “We will continue to assess the market and develop or re-launch projects in line with market demand.”
The 2.3 billion square feet land bank at its disposal offers the master-developer plenty of flexibility. The Walk at JBR, showcased as Dubai’s outdoor shopping and lifestyle concept, has a 1.7-kilometre promenade overlooking the Arabian Gulf.
“DPG has one of the largest land banks in Dubai, spanning key districts and areas including Business Bay — covering the area from Ras al Khor, where it borders Dubai Festival Centre, to Shaikh Zayed Road, where it borders DIFC and Downtown Dubai,” said Al Malik.
Our role is also to work with third-party developers to build projects which benefit both Dubai residents and visitors. For example, there is the recently launched Miracle Garden project in Dubailand. “The market can expect further updates about DPG destinations at the coming Arabian Travel Market 2013.”