Deyaar inks $163m Dubai community project deal
Originally published in Trade Arabia (link below)
Deyaar Development, one of the UAE’s leading real estate companies, has awarded a Dh600-million ($163.3 million) contract to Belhasa Engineering and Contracting Company for its Afnan and Dania districts at Midtown project in Dubai.
Located near Sheikh Mohammed Bin Zayed Road, Midtown is an integrated urban community in Dubai Production City. The development boasts 27 buildings with a built-up area of almost five million sq ft, offering studios, one-, two- and three-bedroom apartments, said a statement from the company.
In Midtown, the first two phases have been launched. The Afnan district features 659 apartments, while Dania District has 579 apartments.
The contract between Deyaar and Belhasa to build 1,238 units will last for 29 months from the signing date, with the superstructure in Afnan and Dania districts expected to be completed by December 2018, with the aim to reach 15 to 20 per cent completion by the end of this year, it added.