Damac has revealed plans to build new homes close to the Dubai Expo 2020 site.
The company is currently developing a block of 270 serviced flats in the residential quarter in the north east corner of the 140km2 Dubai World Central district around the new Al Maktoum Airport.
Damac announced in a statement that it had started selling apartments in the 10-storey Tenora block, with prices starting at Dh610,000 ($163,000).
Construction of the block is expected to be complete by summer 2015.
“Tenora is designed specifically to support the influx of people to the Dubai World Central area of Dubai – not only during the exhibition itself, but also the many thousands of people who will be working on the project in the lead up to the event,” said Niall McLoughlin, senior vice president, DAMAC Properties.
Since Dubai was awarded the right to host the 2020 World Expo two weeks ago, property companies have announced a rush of new developments in and around the Dubai World Central megasite.
Last week Emaar signed a deal with Dubai World Central to develop a 13.63m square metre scheme comprising villas, a golf course, hotels and a mall on the DWC site.
And Abu Dhabi-based property investor Tasweek has said that it has also signed a joint venture with a landowner to develop 800 new townhouses close to the site.
