Dubai Property Boom: New projects worth billions unveiled at Cityscape

The stage is set to make new project announcements in Dubai.

Developers have put in billions of dirhams into Dubai?s property market from early this year, but a wave of new projects, worth billions of dirhams, will be unveiled at the three-day Cityscape Global property exhibition.

Union Properties, a Dubai Financial Market-listed developer, will unveil three projects worth Dh2.15 billion, with the major announcement being the launch of Dh1.1-billion The Vertex, a five-tower project, in MotorCity.

?We will be launching two towers of the five in The Vertex at Cityscape. The five towers will have 700 apartments in total,? Ahmad Khalaf Obaid Bin Touq Al Marri, General Manager, Union Properties.

?We always had plans to launch hi-rises in MotorCity, but the project was put on hold due to the global financial crisis. Now, we have decided to launch these towers. We are awaiting approvals from Dubai Municipality to start construction.?