Al Mazaya vows to complete Dubai projects

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Kuwait-based Al Mazaya Holding says it is pressing ahead with development of the Villa in Dubailand and will deliver Business Avenue in Jumeirah Lakes in the third quarter of 2010.

According to a statement, around 104 units in The Villa have been delivered; another 110 are complete and handover has begun; and the remaining 306 units are 70% done. The reported project cost is AED 1 billion.

"Development works on Al Mazaya Dubai projects are progressing well,” said Fathi Damiri, senior vice president at Mazaya Project Management.

Business Avenue is located at Jumeirah Lakes and consists of three 44-floor commercial towers aimed at business tenants. Two of the towers were sold in 2007, while the third tower will be kept by Al Mazaya and leased out.

Around 85% of construction work on the project is complete and interior fitout work is proceeding as planned, the company claims. The reported project cost is AED 1.25 billion.