Damac Properties says acquires land in Dubai worth $343m

The plots are located on the eastern and western sides of Sheikh Zayed Road close to the emirate's Dubai Canal project.

The plots are located on the eastern and western sides of Sheikh Zayed Road close to the emirate's Dubai Canal project.

Dubai-based developer Damac Properties has purchased land in Dubai for 1.26 billion dirhams ($343.1 million), it said in a statement on Thursday.

The plots, located on the eastern and western sides of Sheikh Zayed Road close to the emirate's Dubai Canal project, will add around 4 million square feet to the company's land bank, the statement said.

The land was purchased through the company's subsidiary, Damac Properties Development, it added.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Construction conflict blights Dubai's off-plan landscape

Construction conflict blights Dubai's off-plan landscape

At a time when investors had hoped Dubai’s grey real estate legislation...

The waiting game: Abu Dhabi's property market

The waiting game: Abu Dhabi's property market

It is rare for an emerging market capital city to experience...

Is Gulf developers' love of London set to cost them a lot more?

Is Gulf developers' love of London set to cost them a lot more?

Controversial changes to property planning legislation in the...

1
Most Discussed
sponsoredTracking