Big plans from Dubai Properties |
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Dubai Properties Group plans to develop an estimated $108 billion
(AED400 billion) worth of real estate projects over the next 10 to 15
years.
According to Yaqoob Al Zarooni, chief officer,
Human Resources, Dubai Properties Group, one of the planned projects
includes a mega-development that will have a phased completion schedule
of 13 years.
"We don't just launch projects for the sake of
launching," said Al Zarooni. "We make sure we get our research and
development, marketing and statistics right first. We're hoping to
introduce a project that will be completed over 13 years.
Al
Zarooni added that the company had a careful contractor selection
process to avoid the types of delays and issues incurred on its
Jumeirah Beach Residence (JBR) development.
"Certain contractors
on the JBR project weren't up to the job," he said. "Some contractors
take on projects they can't handle. They come with the experience of
building 100 villas but want to do 1,000. Developers are now refusing
to give projects to contractors who don't maintain standards.
Among the company's current projects are Tijara Town in Dubailand, Culture Village, The Villa and Business Bay, all in Dubai.
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