Dubai-Mubasher: Dubai Investments signed an agreement to manage and market the Palisades project within Dubai Investments Park, according to a statement.
The infrastructure within the project will be built at a cost of AED 600 million.
The company formed a new entity Palisades Development Company, mandated with leasing, buying and selling of land in the project to prospective investors.
Spreading across 20 million square feet, the Palisades is a residential project comprising 20 buildings with 1,450 apartments, 36 townhouses and eight luxury villas.
Dubai Investments’ stock declined 0.5% to AED 2.03 by 10:20am UAE time, with a turnover of AED 384,800 generated from the exchange of 189,550 shares.
