Dubai - Mubasher: Dubai Investments said that the infrastructure work of the Palisades project in Dubai Investments Park (DIP) is “underway”, according to a bourse statement.
The project spans across 13 million square feet with a total built-up area of around 22 million square feet, offering a range of residential, retail, office, and recreational units.
A contract for earth works grading and levelling of the roads was awarded to Arabtec Construction, the Dubai-listed firm said, adding that the grading work is almost 45% finalised and scheduled for completion by September 2017.
“The infrastructure within the project is being developed in phases at a total cost of AED 580 million,” according to Khalid bin Kalban, managing director and CEO of Dubai Investments.
The Palisades is divided into plots with varying sizes that range from 60,000 to 600,000 square feet, to be sold to investors who will develop them as per the designed master plan.
"Palisades Development Company is also offering easy payment plans for investors in the project, payable over a period of three years,” the statement highlighted.
The project is managed by Dubai Investments through the Palisades Development Company
