DPG Finalizes Land Deal With EmaarFriday, July 27, 2012
According to sources, the member of Dubai Holding, DPG (Dubai Properties Group) has finalized an agreement to complete Dubailand district with the other developer, Emaar Properties PJSC. The land for which the agreement has been finalized is located on the Al Qudra Road along the development of Arabian Ranches. This area where the plot is located is a well-established community of Emaar and will be developed as a mix-use neighbourhood.
The agreement has been made between the Managing Director of Emaar, Ahmed Al Matrooshi, and CEO of DPG Group, Khalid Al Malik. According to Malik, the land deal would be a sign of the attractiveness of Dubailand investment and that he is very pleased to sign this deal. He further added that they intend to continue the work of further developing and enhancing the services of their projects with their partners. The primary purpose of that would be to benefit visitors as well as residents.
Ahmed Al Matroosi on the other hand said that for the ambitious project aligned with the Dubai Government’s vision, he hoped to act as a supportive partner. He said that among the residential developments of Emaar, Arabian Ranches is the most wanted development. The new project finalized with Dubai Properties Group would result in a positive impact on the development. He also added that Arabian Ranches being the most sought-after residential development experiences highest increases in rents and sale prices.