Dubai Properties has awarded a Dh541 million ($147.3 million) construction contract to expand its Remraam community to a local company.
The developer said that the recent rising demand for affordable housing has triggered the decision of expanding Remraam project. The contract has been awarded to Engineering Contracting Co (ECC).
Mohammed Al Habbai who is the Chief Officer for urban planning and infrastructure at Dubai Properties Group, said, “Our aim at DP is to develop projects that meet the needs of the market. With the current increased demand for residential properties in the mid-income sector, and giving Remraam’s popularity in this particular segment, these additional building units are designed to respond to the needs of the population.”
High quality community living
Located just off the Emirates Road between the Jebel Ali Free Zone and Al Maktoum International Airport, Remraam comprises various kinds of units ranging from three-bedroom apartments to studios.
Almost 50% of the households in Dubai earn Dh9, 000 to Dh15, 000 monthly, thus creating a considerable gap in the market for reasonable and affordable housing. Dubai Properties said that it intends to bridge this gap and provide people with decent housing facilities. Moreover, the launching of these apartments at Remraam is an answer to the increasing demands for family homes and investment geared properties.
The apartments at Remraam provide its residents with various facilities and luxuries and offer high quality community living. The facilities include a supermarket, basketball, tennis courts, swimming pools, BBQ areas, walkways, communal lawns and play areas for families.
“The signing of this contract is a new milestone in the development of Remraam, as it will allow us to offer even more convenient, reasonably priced units for Dubai residents and investors in one of the city’s most strategic locations adjacent to the Expo 2020 site”, concludes Mohammed Al Habbai.
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