Dubai South has signed a memorandum of understanding (MoU) with Deyaar Development to develop a mixed-use project in Dubai South’s Residential District.
The 117,990 sq m project will feature residential, retail and hospitality facilities. Dubai South and Deyaar will form a 50-50 joint venture to deliver the project.
Deyaar CEO Saeed Al Qatami said: “This joint venture with Dubai South will meet residential, retail and hospitality demands, carefully matched to the highest standards of design and build, and uniquely suited to a new urban quarter in one of the world’s greatest cities.
“Located beside the World Expo 2020 site and Al Maktoum International Airport, Dubai South is set to become a lively, connected community that reaches across the business, entertainment, tourism and family segments.”
* Data provided by Timetric's Construction Intelligence Center.