DUBAI // Plans to build a luxury seafront high-rise in Dubai Maritime City have been announced by developer Damac.
The tower in Dubai Maritime City will include serviced hotel apartments and a leisure area.
"Dubai is back in a big way," said Damac's managing director Ziad El Chaar. "This investment is a testament to the resurgence and our confidence in the market."
Damac has already completed 37 buildings in the Middle East and has 66 in development across the Mena area, including the US$1 billion (Dh3.67 billion) Paramount Pictures hotel project in Downtown Dubai.
newsdesk@thenational.ae
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
