By Shane McGinley
Move follows the completion of infrastructure works at development site
Dubai Properties Group (DPG), part of the investment vehicle owned by the Dubai’s ruler, is to release two new buildings in Business Bay for sale at next week’s Cityscape real estate event.
The two towers will be located in Bay Square, a 5.1m sqft plot developed around a central square area with retail, recreation and leisure facilities surrounding a fountain feature.
The Bay Square project offers commercial units ranging in size from 2,000 to 4,000 sqft and retail units covering 290,441 sqft at the podium level, with open terraces and piazzas for cafes and restaurants.
Earlier this week, DPG, which is member of Dubai Holding, announced the completion of a number of essential infrastructure facilities in Business Bay.
These included the completion of the internal road network, the sewerage system, an irrigation system and traffic signals and lighting throughout.
“As the master developer and owner of this centrally located commercial, residential and retail hub, DPG has invested heavily in bringing the infrastructure foundations within Business Bay to the final stages,” said DPG GCEO Khalid Al Malik.
DPG would do well to undertake the incomplete infrastructure, connecting road (to Emirates Road), shopping centre, community facilities etc of long delayed 'under construction' projects like REMRAAM and provide relief to hundreds of suffering investor/owners before starting new projects.
DPG are currently holding up the development of Culture Village because they haven't povided the essential infrastructure that is their responsibility. Rather than start new projects, they should first fulfill their existing commitments.