Deyaar unveils $550mn project

by Dylan Bowman Wednesday, 29 August 2007

UAE property firm Deyaar on Wednesday unveiled its largest real estate project to date, a 2 billion dirham ($544.5 million) residential development in one of Dubai’s media free zones.

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The development will be located on the edge of International Media Production Zone (IMPZ), on the outskirts of the city along Emirates Road.
Deyaar said project will be developed on a stretch of 40 plots spanning just under 20 acres.

Construction is expected to begin later this year, it said.

IMPZ is being developed by Tecom Investments, a member of state-owned Dubai Holding, and is being marketed as a media production hub for industries such as graphic art, publishing and packaging.

Tecom is also responsible for Dubai Media City (DIC) and Dubai Media City (DMC).



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