All of stalled mega projects of Dubai Properties Group to resume work
Dubai Properties Group (DPG) Crowned as one of the leading developers in Dubai, have declared that they will resume work in all its mega projects that were delayed or stopped during the financial crisis.
They revealed that announcement to resume all the projects is after the major overhaul observed in terms of raise in the confidence of investors in the City, while the lost glory is back with strong response of the investors in Dubai realty market.
Khalid Al Malik, the Chief Executive of DPG, said that a clear action plan has been made to resume work in all projects that were put on hold earlier.
Some of the major mega projects constructions by DPG have been stretched as a result of downfall in real estate values from its 2008 peaks, due to the global credit crisis, which forces the banks to stop their lending, and many speculators chose to quit market.
DPG developed one of the largest fully integrated real estate and community development business developments in Dubai, and have been successful in contributing residential, commercial, staff accommodation, retail, and property management.
‘Dubailand’ which is considered as the major landmark destinations in DPG has drawn over 20million visitors last year. This year, a projected growth of 10percent more visitors traffic is expected to ‘Dubailand’ and ‘The Walk’ at Jumeirah Beach Residence, which is one of the region’s popular beachfront promenade. As of date, these landmarks are adding numbers in huge quantities towards tourism in the City of Dubai.
Chief Executive of DPG, further added to his comments that DPG will concentrate and commit to support the growth of Dubai, with varied and astonishing communities and destinations.
Since its inception in 2005, Dubai Properties, with its creative and unique mutli-use master developments and destinations, has added value to to diverse life-styles. And in 2008, the company diversified into real estate development and property services too, under the umbrella of Dubai Properties Group