EMAAR Properties has commenced the first phase of construction comprising of 8,888 new residential units across its various projects in Dubai. The next phase of the development will be announced at a later date, stated a press release.
The initiative will significantly change the landscape of the regional real-estate industry and meet the demand for housing across a wide cross-section of income and demographic groups. This move will also continue to build shareholder value for the company’s 42,000 United Arab Emirates (UAE) shareholders.
EMAAR Properties is a Public Joint Stock Company with six major real estate projects currently under development. EMAAR also owns and manages subsidiaries such as the Dubai Bank, which is due to be launched in September, AMLAK Finance, the UAE’s first mortgage finance company, and EMRILL, a provider of property and facilities management services. — (menareport.com)
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