Dubai Investments to manage The Palisades project
The Palisades is a residential development comprising 20 buildings with 1,450 apartments, 36 townhouses and eight luxury villas
Dubai Investments has signed an agreement to manage and market The Palisades project within Dubai Investments Park (DIP).
The Palisades is a residential development comprising 20 buildings with 1,450 apartments, 36 townhouses and eight luxury villas.
Dubai Investments has formed a new entity Palisades Development Company - mandated with leasing, buying and selling of land in the project to prospective investors.
The infrastructure within the project, which is set to be developed in phases, will be built at a cost of $115.6m (AED600m).
Khalid Bin Kalban, managing director and CEO, Dubai Investments, said: "Dubai Investments is looking forward to managing the sales and leasing of land within The Palisades through the Palisades Development Company.
"The Company plans to position the project as a new genre in urban living and it will be a major value-addition to DIP.
"The Palisades is expected to attract a lot of investors' interest considering the surge in demand for land and residential projects within DIP in view of its proximity to the Expo 2020 site and Dubai South."