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FINANCIAL NEWS
Dubai’s Deyaar to launch two new projects this year
11 Jun 2013
(MENAFN) Dubai-based Deyaar’s Chief Executive Officer, Saeed Al Qatami, stated that the company will launch two new projects in Business Bay in 2013, reported Arabian Business.
Al Qatami also said that one of the project will be a residential development in Dubai’s Business Bay district, adding that Deyaar was working on securing bank financing for it. It will be worth around USD136 million.
The CEO said the second business had not been decided yet and gave no details other than the land reserved for it which covers 1 million square feet.
It is worth noting that Deyaar plans on resuming work on some of its projects that were halted during Dubai’s real estate crash back in 2008 which caused property prices to drop by up to 65 percent, according to its CEO.
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