Emaar Properties and Dubai South are partnering to build Emaar South, a new 7-square-kilometre development near Al Maktoum International Airport, which will be financed by a mix of equity, debt and pre-sales, officials said.
Mohamed Alabbar, the chairman of Emaar Properties, and Khalifa Al Zaffin, the executive chairman of Dubai Aviation City Corporation and Dubai South, declined to give a timeline or cost for the project, which will be split 50-50.
The project will feature six districts for more than 15,000 homes that include villas, town houses and apartments, an 18-hole championship golf course, community parks, retail facilities, schools, and three and four-star hotels.
The new project will be marketed at a “reasonable” price level, Mr Alabbar said. More info
By Dania Saadi www.thenational.ae
Photo: Mohamed Alabbar, the chairman of Emaar Properties, left, and Khalifa Al Zaffin, the executive chairman of Dubai Aviation City Corporation and Dubai South, during the unveiling of the Emaar South development. Mona Al Marzooqi / The National
