DPG: Funds secured for all projects
Building will go ahead regardless of sales
Dubai Properties Group (DPG), the real estate development arm of Dubai Holding, has funds in place to complete all its projects.
“For the time being, we have fund for every single project,” Mohammad Al Habbai, chief officer for urban planning and infrastructure, DPG, told Emirates24|7.
“Despite sales or not, we will go ahead with these projects."
During September's Cityscape Global exhibition, DPG launched the $2.2mn Dubai Wharf project, a waterfront district in Culture Village, and Maram Residence, a twin-tower in Burj Khalifa district.
Construction is set to commence on the Dubai Wharf project by the end of 2014 with a completion date in 2016.
“Enabling work has already commenced on Maram Residence with the main construction contract being awarded soon,” he added.
DPG was the master developer of Jumeirah Beach Residence (JBR), Business Bay and many other developments in the Emirate.