Five new projects worth AED3 billion were launched in the UAE on Tuesday, indicting the growing confidence of the industry and investors in the country’s real estate market, Emirates 24/7 reported.
Four of the projects were launched in Dubai, while one was unveiled in Fujairah.
Omniyat Group, a Dubai developer, broke ground on AED600 million 'Anwa' – its first project - in Dubai Maritime City.
Meanwhile, Al Habtoor Group, one of Dubai’s largest conglomerates, announced three new projects worth over AED2 billion. “Work is already underway for the three developments – AED993 million Habtoor Polo Resort & Club and a combined AED1.02 billion for Metropolitan Sheikh Zayed Road and Oasis Villas,” Khalaf Ahmad Al Habtoor, Founder and Chairman of the Group, said.
Al Taif Investment, a joint venture between Dubai Investments and Fujairah Investment Establishment, the investment arm of Fujairah Government, launched the AED400 million Fujairah Business Centre project.