Al Habtoor: We will develop the largest horizontal real estate project in the world in 2023
The Al Habtoor Group revealed its plans to construct three huge real estate projects, in different areas of Dubai, during the next year 2023, at a total cost of 9.5 billion dirhams.
The founder and chairman of the Al Habtoor Group, Khalaf Ahmad Al Habtoor, announced that the new projects include residential towers, one of which will be the largest of its kind in the world, in terms of the size and number of apartments, pointing out that the strong recovery of the Dubai economy during the year 2022, and the return of development rates to their levels The high levels, more than the years before the “Covid-19” crisis, were encouraging factors to enter into real estate activity again, and to make the decision to double investment in new qualitative projects.
In detail, Al Habtoor said that the first project is in the Al Habtoor City complex, and it includes residential towers, one of which will be the largest in the world, and the complex is a vital center for housing, hospitality and entertainment, and its construction cost is 4.5 million dirhams.
Adding that the project is a horizontal complex that meets various living needs, and includes more than 20 facilities, including a spacious panoramic swimming pool overlooking the magnificent Dubai skyline.
He explained that the second real estate project includes the construction of a distinct residential complex in the Habtoor Grand Resort in the Jumeirah Beach Residence area, at a cost of 2.5 billion dirhams.
Pointing out that it includes exceptional facilities, stunning views overlooking the coastline of the Emirate of Dubai, and the city's prominent landmarks.
Regarding the third project, the founder and chairman of the Al Habtoor Group said: "It includes the redevelopment of the Al Habtoor Tower in the Marina, at a cost of 2.5 billion dirhams," indicating that the current Al Habtoor Tower will be replaced by a larger and more luxurious residential tower in the heart of Dubai Marina, with views Brilliant marina like no other.
Khalaf Al Habtoor confirmed that the expanded portfolio of new projects will be implemented with internal financing.
Pointing out that the group considers these expansion projects a necessity that reflects the clarity of the development path pursued by the country's leadership and the vision it pursues, leading to the growth of the UAE economy at a pace unparalleled in any other country.
Stressing that the UAE in general, and Dubai in particular, is a safe haven for various nationalities, and is becoming safer and more secure thanks to the continuous development steps that make it the best place for investment and attractive returns.
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