Dubai-Mubasher: DAMAC Properties acquired new development land plots for AED 1.26 billion ($343 million), according to a bourse filing on Thursday.
The land payments will be made over five years, the Dubai-based developer said.
The plots, located on the eastern and western sides of Sheikh Zayed road at the Safa Park intersection and in close proximity to the Dubai Canal, will add circa 4.0 million square feet in to the company’s land bank.
