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FINANCIAL NEWS
Dubai’s DP awards USD147m deal for Remraam project
19 Dec 2014
(MENAFN) Dubai Properties announced that it has awarded a USD147.3 million construction contract for the expansion of its Remraam community to Engineering Contracting Co (ECC), a decision it made in response to the recent market demand for affordable housing, Arabian Business reported.
Under the agreement, the expansion project involves the construction an 18-building expansion of the Dubailand community, which will consist of units ranging from studios to three-bedroom apartments.
“Our aim at DP is to develop projects that meet the needs of the market. 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,” chief officer for urban planning and infrastructure at Dubai Properties Group said
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