An alliance between three developers is planning to launch a major new mixed-use project in Dubai in September.
Developers Aristocrat Star Real Estate Development, PAL Developments and Pacific Ventures have announced plans to develop a community that will have 2,000 residential units, dedicated retail space, an office complex and a hotel.
The developers did not disclose the exact location of the project but said they aimed to launch on the back of an "air of positivity" currently seen in the UAE's real estate markets.
Osman Valli, chairman, Aristocrat Star Real Estate Development, said: "Delivering sound investment opportunities packaged within a sense of community was the vision that inspired us to venture into real estate development in the first place. And our upcoming project promises to be just that."
Atiq Merchant, director, PAL Developments, added: "We are excited about our partnership with Aristocrat Star and Pacific Ventures to develop this sustainable real estate milestone, which we are confident will bring more colour to the already vibrant canvas of Dubai."
Commenting on the alliance, Parvez Khan, chairman, Pacific Ventures said: "This partnership signifies the upcoming launch of one of the most iconic projects this iconic city is home to."
Pacific Ventures, which was set up in 2011, has existing Dubai projects called Burj Pacific and Pacific Village while Aristocrat established their presence in the UAE in 2001 and PAL Developments has several projects over a built up of 4 million sq ft.