Dubai developers press forward with new projects despite tight economy

UAE Aykon Real Estate

Dubai major developers are letting nothing to get in the way of launching their new real estate projects in the Emirate.

Two new projects were announced lately by two of Dubai giant developers Dubai Properties Group and Damac.

The first project was Serena which spans over 8.2 million square feet in Dubailand. The project is expected to be completed by the fourth quarter of 2018.

The second project Aykon City developed by Damac Properties. The project includes a cluster of six towers sprawling over 4 million square feet. The company has already launched sales on the first phase units. Project revenues are expected to surpass Dh7 billion from sales across all phases.

By progressing with their construction plans, Dubai major developers are clearly showing their intent in creating demand now rather than settling down for the market’s stable performance and awaiting the next upturn.