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.

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