Business | Property
Iris launches Dh100m Dubai property project
Dubai-based Indian real estate developer Iris hopes to boost its portfolio to Dh5 billion this year, as it announces the launch of its latest project, the Dh100 million Iris Asmar.
- By Suzanne Fenton, Staff Reporter
- Published: 00:05 April 3, 2008
- Image Credit: Supplied Picture
- Iris Asmar will consist of eight three-bedroom and seven four-bedroom apartments.
Dubai: Dubai-based Indian real estate developer Iris hopes to boost its portfolio to Dh5 billion this year, as it announces the launch of its latest project, the Dh100 million Iris Asmar.
Iris Asmar is a seven-storey residential building located in Cultural Village.
It will consist of eight three-bedroom and seven four-bedroom apartments. It is the company's fourth project in Dubai, bringing the current portfolio to Dh2.5 billion. Prices in Iris Asmar will start at Dh2,835 per square foot and go up to Dh2,888 per square foot.
Ashwin Sheth, director of Iris Properties, said: "As the property market is growing at such a fast speed, the main concerns are finding good contractors and good consultants. Selling is not the challenge here. The challenge is finishing the project on time."
Two more projects will be launched later this year, including one in April, in Business Bay and Maritime city, which will increase the company's Dubai portfolio to Dh5 billion spread over six projects on four million square feet of land, including parking areas.
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