Dubai Investments to Issue Tender for AED 1 bn Skyscraper

Thursday, 6th July 2017

Dubai Investments is to tender construction for an AED 1 bn (USD 272.48 mn) tower this year, Invest-Gate reports.
“The tender will be issued in the fourth quarter (of 2017),” CEO and Managing Director of Dubai Investments Khalid Bin Kalban, tells Thomson Reuters.
The 70-floor freehold residential high-rise will be located on Dubai’s Sheikh Zayed Road, close to the Al Habtoor City development.
The yet-to-be-named project is expected to break ground before the end of the year and will take three years to complete. The project will be financed through part debt and part equity, Kalban said.

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