Arada acquires premium Dubai plot for new residential project ...United Arab Emirates

ME CONSTRUCTION NEWS - Local News
Arada acquires premium Dubai plot for new residential project
source : ME CONSTRUCTION NEWS ( United Arab Emirates ) () 30
Sharjah developer Arada has purchased a prime land plot in Zabeel 2, adjacent to Dubai International Financial Centre (DIFC). This marks a further significant expansion for the master developer into the high-end Dubai property market. Valued at US $163.3mn, the plot was purchased from Rital Properties, the real estate subsidiary of Emirates NBD. Positioned between DIFC and Downtown Dubai, the 138,466sqft land plot is close to both Index Tower and Central Park Towers. Plans are in place to develop the land into a 50-floor luxury residential tower, containing 400 premium apartments, offering views of the Burj Khalifa and Dubai skyline from a central location. The plot purchase deal was signed

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