GulfBase Live Support
Meraas Holding, a leading Dubai-based development company, and property developer Emaar Properties PJSC, have announced a new joint venture to develop the master-planned community Dubai Hills Estate, the first phase of the Mohammed Bin Rashid City (MBR City), the largest of its kind real estate development in the Middle East region.
Envisaged as the premium lifestyle community, Dubai Hills Estate will be set on prime land, spanning over 11 million sq metres (2,700 acres) located centrally by the junction of Umm Al Sequim Road and Al Khail Road, 10 minutes driving time from Downtown Dubai.
The project will be a mixed use development with a series of unique neighbourhoods set around an 18-hole championship golf course. Featuring vast stretches of landscaped parks and gardens, winding walkways and extensive open areas, Dubai Hills Estate will serve as a rejuvenating getaway in the heart of the city, with the rolling greens and fairways of the golf course assuring a serene ambience. Overlooking the golf course will be the stylish Dubai Hills gated villa community, with the opportunity for customers to design their luxurious homes to their bespoke considerations.
Dubai Hills Estate will also feature an iconic commercial centre, and low-rise and mid-rise residences, hotels and serviced hotel apartments, offering a breadth of residential choices. The project, the first phase of the prestigious MBR City, will have high-end retail centres and varied leisure amenities. Adding to the convenience of residents, Dubai Hills Estate will also include educational institutions, healthcare facilities and mosques.
His Excellency Abdulla Al Habbai, Group Chairman of Meraas Holding, said: “Dubai’s property sector is recording robust growth, led by the transformational growth of the city. MBR City is an ambitious undertaking, envisioned by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to meet our future growth goals. Our joint venture with Emaar Properties to develop Dubai Hills Estate will bring incredible value to the property sector of Dubai and the city’s economy.”
His Excellency Mohamed Alabbar, Chairman of Emaar Properties, said: “MBR City is redefining the concept of urban development with a firm focus on the emerging needs of the city, as Dubai further underlines its position as a global business and leisure hub. Our plan is to work with Meraas to build a new world-class community that will appeal to discerning customers.”
The master-planning of Dubai Hills Estate is progressing, with an emphasis on sustainability. The project is expected to generate long term wealth enhancement to the economic and social development of Dubai. It will also boost the tourism sector of the city, with its array of leisure amenities complementing MBR City’s objective of boosting family tourism.
Meraas is the developer of iconic projects in Dubai including The Pearl Jumeira, an exclusive residential development by the Arabian Gulf; The Avenue, a vibrant, award-winning retail destination; The Beach, a leading retail and entertainment destination; Blue Waters, a world-class entertainment destination encompassing Dubai Eye, the largest observation wheel in the world; and Island 2, a luxury island destination including a high-end branded five star resort. Meraas has also launched Motion Gate, featuring a movie-based theme park, a Bollywood-themed park and a Legoland theme park that will be located within its master-development in Jebel Ali. It is part of a three-phase project spread across 30 million sq ft.
Click here to read complete press release
Expo 2020 Dubai has selected Dubai-based Emaar Hospitality Group, the hospitality and leisure subsidiary of global developer Emaar Properties, as its newest Official Partner.
Leading developer Emaar is set to launch one of the world’s finest city-harbour getaways, the Creek Marina, in the heart of Creek Island Dubai, the premier residential and leisure district of the 6 s
Emaar Malls, the shopping malls and retail business of UAE developer Emaar Properties, has registered a net profit of Dh1.102 billion ($300 million) during the first half, up 8 per cent over Dh1.021
Bahrain’s Investcorp slipped into a $165 million loss for the 12 months ended June 30, against profits of $131 million a year ago.
The COVID-19 played its part in the loss, as fee income c
Aramex, a leading provider of logistics and transportation solutions, has registered a 4 per cent growth in its revenues for the second quarter which surged to hit AED1.32 billion ($359 million), com
Abu Dhabi based investment company Waha Capital recorded a net loss of Dh27.2 million - attributable to shareholders - for the first six months of 2020, an improvement on the Dh124.38 million it rec
First Abu Dhabi Bank (FAB), recently announced the issuance of the largest-ever Chinese Yuan (CNH) denominated dual-listed Formosa bond globally, with a CNH 3.25 billion five-year issuance.
The Gulf Today
UAE's leading telecom services operator Etisalat Group has announced that the interim dividend of 15 fils per share for the second quarter will be paid out starting from August 11 through the First A