photo credit: bettyx1138
A UAE investment property builder has announced completion of a prestigious marina development after AED 350 million in spending.
Cayan Investment and Development said it had finished Dorrabay at Dubai Marina, featuring one to three-bedroomed apartments plus townhouses and duplexes.
Executives said the delivery would boost consumer confidence in the UAE real estate market during the economic downturn.
The firm added clients were already being handed keys to units in the Dorrabay scheme, which includes a gym, swimming pool and children’s play area.
Cayan chief executive Kareem Derbas said:
“We are confident that the project execution will go a long way in building customer confidence in our projects and the real estate industry as a whole.”
The company also has five other projects in the emirate along with schemes in Egypt having only been running for five years.
Research firm MEREC has also said Dubai’s property market is being bolstered by an increase in detailed planning legislation.
A new property court and developing database of real estate deals are helping to prop up new sales in an otherwise difficult climate.
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