Business | Property

Dubai Properties' two projects worth Dh105b

Dubai Properties, master developer, on Monrday said the development value of its two projects - Mudon and Cultural Village will reach Dh105 billion.

  • Staff Reporter
  • Published: 00:43 October 7, 2008
  • Gulf News

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Dubai: Dubai Properties, master developer, on Monrday said the development value of its two projects - Mudon and Cultural Village will reach Dh105 billion.

Mudon, a large city incorporating the image of five individual cities of Baghdad, Beirut, Damascus, Cairo and Marrakesh, will provide housing for 50,000 residents. The project, with the value of Dh55 billion is expected to be completed in 2012, with the first phase finishing in 2010.

Located at Dubailand, the city will cover 73 million square feet and will offer a choice of studios, one-, two-, three- and four-bedroom apartments, townhouses, traditional courtyard houses and signature villas and apartments.

The first units of Cairo downtown homes were released for sale yesterday at the exhibition. A total of 348 units are there. These houses comprise a 1.4 million square foot cluster of 2-storey, four-bedroom villas, within the Cairo section of the project.

The second project, Culture Village, is a mixed-use master development spread over 40 million square feet.

It will feature museums, souqs, academies or art and music libraries, over 300 retail units and exhibition halls among the residential and commercial districts.

Expected to complete in 2010, this Dh50 billion project is located between Al Garhoud Bridge and Business Bay Bridge.

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