The founder of Dubai-based Goldline Contracting has bought 26 plots of land around Dubai which he intends to develop over the next three years, ConstructionWeekOnline.com reports.
Dr Navjit Singh Anand said that the plots are in areas Cultural Village, Business Bay, Jumeirah Village South, Jumeirah Village Triangle, Dubai Sports City and at the Marina. These will be developed by a new division of his group of companies, Goldline Real Estate.
According to him, the decision to launch a property department arm came after years in contracting where there have been many struggles, such as not getting paid for certain contracts.
“As a contractor, I realised that I was at the mercy of developers. If the developer made money, the contractor might get paid. If the developer lost money we definitely will not get paid. The upside was with developers and the downside with contractors."
He added: "We’re looking at apartments, with a few commercial towers. We’re doing a few co-developments, and the rest will be our own projects."