Bin Zayed Group unveils Dh250m Springs project

The Bin Zayed Group has launched its Dh250 million residential project in Dubai Silicon Oasis.

The Dubai-based construction developer is expected to begin construction of the project, named the Springs at the Oasis, by the end of the year and will finish construction in 2007, according to the company's chairman.

"Silicon Oasis is one of the nicest places for this project, which entails one million square feet of built-up area. Dubai Silicon Oasis has a low population density and less traffic, which will make it more relaxing for residents. We are expecting to break ground on the project by the end of this year," Shaikh Khaled Bin Zayed Al Nahyan, Chairman of the Bin Zayed Group, told Gulf News.

Apartments in The Springs at the Oasis will be sold under 99-year lease and prices will range from Dh249,000 to Dh2 million.

Some of the special features of the residential project include a 30,000 square foot elevated garden and private swimming pools for some of the apartments.

"People who are in interested in buying a residence want open spaces, which we are providing. We have just launched the project right now and already we have sold a number of apartments in these past hours," Shaikh Khaled said.

Bin Zayed Group is also looking to launch more projects both in Dubai Silicon Oasis (DSO) and other parts of Dubai as well as Abu Dhabi in the near future, he said.

Launched just over a year ago, DSO, a government-backed high technology park, looks set to become the region's Silicon Valley by attracting major industry leaders in the fields of micro-electronics and semiconductors to set up their development, manufacturing and assembly facilities in Dubai.