Dubai Properties to start leasing units

Dubai: Dubai government-owned developer Dubai Properties said it will launch and hand over approximately 5,000 commercial, residential and retail units from across its diverse portfolio of projects for leasing this year.

"In addition, Dubai Properties will be opening 100 outlets at The Walk at Jumeirah Beach Residence by April. Some of the initial outlets will include renowned brands such as Starbucks, Subway, Mothercare, Verri, Fat Face, Butlers, Boots, Damas, Jumbo Electronic, Al Rasasi, Giordano, Tips & Toes, and Bata. Over 300 additional outlets are scheduled to be open by the end of June," a statement said on Wednesday

Looking forward

Mohammad Bin Braik, chief executive, said: "Apart from developing unique communities, Dubai Properties is committed to ensuring the timely release of its completed units. Following the enormous success of 2007, we are looking forward to a year of massive business expansion and project handovers.

"The handover of residential and commercial units, as well as the launch of new projects, will significantly meet the emirate's escalating demand. We are delighted that investors and end-users find high value in the upscale amenities and world class services we consistently deliver across our projects. Meanwhile, DP is leasing 2,568 out of the 2,611 units available at different areas in Dubai including JBR, Cordoba Villas, Dubai HealthCare City, Al Quoz Community Housing and DP staff accommodation.

"The year 2008 will witness another milestone for DP, in adding 5,028 flats and villas to its leasing portfolio in Mirdif areas, additional units in Executive Towers, the Office Park Building and Al Quoz Community Housing. This will bring the total number of units available for leasing at Dubai Properties to 7,600 units," added Bin Braik.

Handover

In 2007, the Jumeirah Beach Residence became the first freehold Dubai Properties project to be completed, when approximately 6,500 apartments across 36 residential towers were handed over. More than 2,000 families have moved into the apartments since then.