Mada'in launches Dh400m project in Dubai

Dubai: Developer Mada'in Propertieson Thursday launched its first commercial project, a 14-storey tower with a value of Dh400 million.

The Domain is located in Dubai Silicon Oasis and has a land area of 7.2 million square metres and a built-up area of 303,159 square feet.

The fifth floor of the tower will feature an 18,348 square feet garden. Other features include a gym, swimming pools, restaurants and retail space.

Prices will start at Dh1,650 per square foot. Figures released by Mada'in Properties show there will be 647 parking spaces in the tower.

"The Domain is in an integral part of a series of landmark developments to be launched by Mada'in Properties during the course of the year," said Abdul Aziz Al Awar, chief executive officer.

Kieron O'Connor, chief operating officer, said that the company plans to launch more projects in the Gulf this year, with a combined value of around Dh3 billion.

Muammar Khalid Al Katheeri, chief planning and construction officer at Dubai Silicon Oasis Authority, said there are currently around 65 projects by developers in Dubai Silicon Oasis. Al Katheeri said 40 per cent of these are commercial.

Madai'n recently launched a Dh1.25 billion development, Marina Arcade in Dubai Marina.