Delayed $1.9bn Dubai Living Legends project to begin handover in December

Tanmiyat's new CEO official said it has made "dramatic progress" on the Dubailand project

Living Legends was launched before the property crash and was meant to deliver parts of the development between 2008-2010

Living Legends was launched before the property crash and was meant to deliver parts of the development between 2008-2010

Tanmiyat's newly appointed CEO, Eng. Muhammad Bin Odah, says that 'Living Legends', its major project in Dubailand is progressing at a rapid pace, and that it will hand over the first villas in December 2014.

According to the company, it has made "dramatic progress" on the $1.9bn (AED7bn) project, which it says is a reflection of the current robustness of the real-estate market in Dubai. The Saudi developer had launched Living Legends before the property crash and was meant to deliver parts of the development between 2008-2010. However, work remained at a standstill for years and only picked up again as the market improved.

Living Legends is an independent residential community with a golf course, a mall and landscaped gardens.

Bin Odah said: "The Living Legends project today is at an advanced stage and I am working very closely with the team to maintain the schedule and upgrade the quality and maximise our supply to meet the market demands as part of Tanmiyat's efforts to consolidate its leading position amongst real estate developers not only in Dubai but also in the region," Bin Odah said.

The company recently restructured operations with a view to boosting its share of Dubai’s real estate market.

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

Posted by: another investor

From investor to investor ... who has not suffered endless delays in Dubai? If you count the time lost (and maybe the depreciation - happened in certain areas i.e. International City) o, more than an investment seems to be a donation. In my case, personally, I preferred to take legal action (and with good results) ... time lost in email, looking for explanations never obtained, site visits to see the work never started. Yes, we need someone to clean up this mess. Dubai is a great city, I would not change it for any other place in the world, business and socially wise. In my opinion, measures and controls should be strengthened to avoid certain situations. Prevention is always better than cure!

Posted by: a sad investor

Can Rera get up on projects like ACI , al Attar and so many more which havent budged an inch. We all know that business bay is a prime locality and both projects are in prime land . When we call then we are told wait wait but we wont start , we will give you 30 percent and close the project what about holding our money for over 5 years . wish i didnt trust these developers . What does RERA do in this instance . Stop their movement on new projects . not renew their licences and also give black points for this so that they cannot play this cheating game . At one side we show the glamour of Dubai , the appreciation of the glitz and the lavish lifestyle and new projects what is happening on these projects . Pls get up Dubai . Dont forget the past we have all suffered . we need someone to stand up and say clean all this .

All comments are subject to approval before appearing

Further reading

Features & Analysis
Cash crunch at Saudi firm casts shadow over Lebanon's Hariris

Cash crunch at Saudi firm casts shadow over Lebanon's Hariris

The troubles at Saudi Oger have led to a cash crunch and layoffs...

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Abandoned in Saudi desert camps, migrant workers won't leave without pay

Plight of workers has alarmed their home countries and drawn...

4
Are the troubles easing for Saudi construction giant Binladin?

Are the troubles easing for Saudi construction giant Binladin?

Gulf kingdom's biggest builder appears to have pulled back from...

Most Discussed
sponsoredTracking