Leading real estate groups declared a plan to commence a Dh2.4 billion mixed-use development in Dubai this September to meet the growing demand for housing units in the emirate.
The collaboration indicates the upcoming inauguration of one of the most iconic projects, the Pacific Ventures chairman stated.
Established in 2011, the Pacific Ventures has worked out a track of successful retail, hospitality, residential, and fitness developments including Burj Pacific and Pacific Village, along with others.
The Aristocrat Star Real Estate Development has been equipped for 30 years in retail, manufacturing and real estate sectors and has been active in expansion and promotion of real estate.
The first period that will cost approximately Dh900 million will be commenced later this year 2014 and upon its completion about 300 units will be delivered by second half of 2016. The second period will take another two years to finish and the third phase will mark the finishing point of the project.
PAL Developments brings over 30 years of real estate growth proficiency and is a Development and Investment Company that is presently at the control of numerous projects across Dubai that span over a developed of four million square feet.