UAE – Mubasher: Ithra Dubai, a real estate developer owned by the Investment Corporation of Dubai (ICD), said that Phase 1 of its Deira Enrichment Project is being constructed with AED 7 billion in investments, Al Khaleej newspaper reported.
The first phase of the project comprises of 4,459 units, including 2,200 residential units, 1,000 hotel apartments as part of eight buildings, 843 retail units, and 416 commercial units, the property developer added.
Once completed, the project will embrace around 25,000 residents, according to the newspaper, citing Ithra Dubai.
The company noted that it will offer great deals for those interested in renting in the project by granting long-term leasing contracts that could last up to a five-year period.
Construction work of Phase 1 is expected to end gradually as of the fourth quarter of 2019 to the first quarter of 2020.
Ithra Dubai had launched Deira Enrichment Project on 20 April 2017 with the aim of developing the area of Deira.
