Big plans from Dubai Properties

Dubai Properties Group plans to develop an estimated $108 billion (AED400 billion) worth of real estate projects over the next 10 to 15 years.
Big plans from Dubai Properties
By Angela Giuffrida
Sat 22 Mar 2008 04:00 AM

Dubai Properties Group plans to develop an estimated $108 billion (AED400 billion) worth of real estate projects over the next 10 to 15 years.

According to Yaqoob Al Zarooni, chief officer, Human Resources, Dubai Properties Group, one of the planned projects includes a mega-development that will have a phased completion schedule of 13 years.

"We don't just launch projects for the sake of launching," said Al Zarooni. "We make sure we get our research and development, marketing and statistics right first. We're hoping to introduce a project that will be completed over 13 years.

Al Zarooni added that the company had a careful contractor selection process to avoid the types of delays and issues incurred on its Jumeirah Beach Residence (JBR) development.

"Certain contractors on the JBR project weren't up to the job," he said. "Some contractors take on projects they can't handle. They come with the experience of building 100 villas but want to do 1,000. Developers are now refusing to give projects to contractors who don't maintain standards.

Among the company's current projects are Tijara Town in Dubailand, Culture Village, The Villa and Business Bay, all in Dubai.

Dubai Properties Group was recently formed after a restructuring of Dubai Properties. The new company consolidated all of Dubai Properties current operations into six business units, bringing them under one umbrella organisation.

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