Dubai based property developer Select Group has announced its ninth residential Dubai Marina development.
The AED500m ($136m) project, entitled No. 9, is set for completion in March 2016 with pre-sales starting in January, the company said in a statement.
Select Group's CEO, Rahail Aslam, said: "Our latest residential development project "No. 9" is a AED500m project and represents our ninth residential development in the Marina, an area which is undoubtedly one of Dubai's most popular residential districts and one which has experienced a strong capital appreciation in 2013."
He added: "No. 9 is an exciting project for us. The development occupies one of the last remaining waterside plots in Dubai Marina neighbouring Grosvenor House Hotel and undoubtedly providing a unique opportunity for investment."
Comprising of one- two- and three-bedroom apartments with four penthouse duplexes, the project will join Select Group's Marina portfolio, including Torch, Bay Central and Botanica.
Select Group said it is also near completion of two other projects in the Marina. West Avenue, a 35-storey residential tower inspired by the architecture of Manhattan is set for handover in Q2 2014 and Select's flagship five-star 320 room Intercontinental Dubai Marina will open its doors in Q4 2014.
Select's portfolio also includes development projects in the United Kingdom and mainland Europe.
Aslam added: "We are not stopping here; there are some very exciting developments in the pipeline for the upcoming year both here in Dubai and the UK.
"Dubai's property market has proven to be a resilient market that has had its share of ups and downs played out on a global property stage, which is now firmly showing positive growth coupled with lots of interest from investors from around the globe looking to put a stake in Dubai."For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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