Dubailand’s residential community nears completion
The first phase granted certification by Dubai Civil Defence.
The first phase of buildings in REMRAAM has been granted certification by Dubai Civil Defence.
The development, located in Dubai Land and owned by Dubai Properties Group (DPG) is due to commence handover this quarter.
According to a statement from Dubai Properties Group, the final touches are now underway, with infrastructure now “substantially complete”.
“REMRAAM is poised to become a distinctive residential development,” commented Khalid Al Malik, DPG CEO.
“The achievement of Dubai Civil Defence certification is a significant milestone and confirms our commitment to the delivery of this highly anticipated new community. In the weeks ahead, we will continue to work closely with our contractors and the authorities as more buildings are readied for handover,” he added.
DPG also announces the key neighbourhoods will be named Al Thamam and Al Ramth, inspired by the surrounding desert flora.
The residential community is located in an area referred to as the “new Dubai”, between Jebel Ali Freezone (JAFZA) and Arabian Ranches, with access to Sheikh Zayed Road and Emirates Road, and Al Maktoum International Airport.
In 2010 the real estate value of the development’s properties was estimated at US $132 billion, with ArabianMoney reporting in the same year that 20,130 properties were listed for sale; around 11 per cent of the estimated 300,000-unit housing stock.
Last week Al Malik also responded to rumours that Dubai’s The Lagoons project has been cancelled. According to Emirates 24-7 Al Malik denied the rumours, saying therefore the site’s land owners and investors are not entitled to a refund. The seven island, 70 million square feet Dubai Creek project was launched in 2006, with plans to comprise residential, retail and commercial units.
