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Thu 25 Oct 2007 01:11 AM

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Deyaar unveils $817mn Dubai project

Deyaar Park will be real estate firm's single largest mixed-use development to date.

Deyaar Real Estate said on Wednesday it was planning a 3 billion dirham ($817 million) development in Dubai, the company's single largest mixed-use project to date.

The project, Deyaar Park, is part of the $12 billion Downtown Jebel Ali development, promoted by state-owned property firm Limitless.

Deyaar Park will be made up of luxury homes, offices and retail stores, with a built up area of over 18 hectares, situated in the Green Trellis District of Downtown Jebel Ali.

Deyaar's shares closed unchanged on Wednesday at 2.01 dirhams.

Deyaar complies with Islamic law, including a ban on lending or borrowing on interest.

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