The top 9 ongoing projects in the residential building sector are contributing an estimated $21 billion to the local construction market, according to the latest Ongoing Residential Building Projects in The UAE report prepared by the BNC Network.
dmg Portfolio Exhibitions Director for The Big 5, Josine Heijmans, evaluates that “Dubai alone accounts for over half the recorded developments in the UAE.”
“The UAE itself makes up approximately 45 percent of on-going builds in the GCC.”
Six out of the 10 listed projects are being developed in Dubai, with others adding great value to Emirates such as Abu Dhabi, Sharjah and Ras Al Khaimah.
By order of estimated value they are:
The Villages – Dubai South
The $6.8 Billion Dubai South residential villages have a completion estimated in late 2022, with the five community-based settlements featuring around 20,000 units. The project will also include educational, retail, and healthcare facilities in addition to a botanical garden and farms.
Aljada Residential City – University City
With an estimated completion of early 2025, the $6.5bn Sharjah based project involves the construction of a mixed-use development spread across 2,200,000 square meters. As well as an exclusive business park which will be built for the community, the central district will feature a children’s adventure complex, skate parks, an extreme sports centre and more.
Jebel Ali Gardens
Valued at $2bn and due for completion in early 2020, the mixed-use development from developer Nakheel will include 42 buildings and three mosques accommodating a total of 3,000 people. The project will also include 102,193 sqm of green, landscaped parks.
Mina Al Arab
The Ras Al Khaimah based project is expected to be completed in the third quarter of 2019. Valued at $1.3bn, plans include beach and waterfront apartments, villas and townhouses with a private beach clubhouse, dining and entertainment venues.
With an estimated completion date of mid-2020, the Entisar Tower is the only listed project to feature a boutique hotel – which will offer 444 services apartments. The mixed-use tower will stand 113 floors tall and alongside the hotel will house office and retail spaces. The project will also include a spa, indoor running track and tennis courts, multiple pools and Sky Gardens.
Meydan Heights South – Nad Al Sheeba 1
The $800 Million community has the earliest estimated completion date and will accommodate the general public as well as Emirates Airline pilots. The total 720,000 sqm covered will support 2,200 two-storey villas.
The Residences – Marina Gate
Due for completion in late 2019, the $796m projects involve the construction of three residential towers offering a total of 1,200 units. Tower 1 and 2 offers 881 residential apartments, 19 Penthouses and 18 duplex Marina Villas.
North Wathba District – Phase 1
The project in Abu Dhabi, valued $794m, involves the construction of a mixed-use development which will support 240 villas, three neighbourhood mosques, a dedicated Friday mosque, three schools, four neighbourhood parks and a retail community centre.
Staff Village – Dubai Logistics City (DLC)
Estimated to be completed by the close of 2018, the project involves the construction of 152 residential complexes reach comprising a basement level, a ground floor, mezzanine floor and five additional floors that will accommodate 52,000 staffs.
http://ameinfo.com/ | Published - November 6th, 2017