A Dh4b jewel in the crown of Old Dubai

Dubai: “Old Dubai” still has what it takes to create a landmark real estate development. A Dh4 billion mixed-use project spread across 8 million square feet is gradually taking shape right on the edge of Dubai Creek and between Maktoum Bridge and Floating Bridge. Hotels will take up the dominant portion of the high-rises that will form within this massive canvas.

And the developer — Dubai International Real Estate (DIRE) — did not have to think too much over naming the project. “The ‘Jewel of the Creek’ occupies the last stretch of undeveloped land on the Creek on the Deira side of town,” said Imad W. Elias, CEO of Roda Hotels, which is the hospitality arm of DIRE. “And the Dh4 billion is just the overall development value or the project — the value of the land alone, as such, is priceless. And this project with its many elements will be reviving this part of the city.”



Source: gulfnews.com

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