Khalid Kalban, Chairman of “Union Properties”, said that the company expects to get a return from the sale of the third phase of Green Community expansion project that reaches 23% over three years.
Kalban added to “Mubasher” that the main contractor has been appointed and the marketing and sales operations have already started.
Green Community project is located on an area of up to 1.5 million feet, where it consists of 220 Villa as well as shops. The total gross value of the project is about 815 million dirhams, and it is expected to be completed mid-2017.
It is worth mentioning that the company has handed over the first phase of the project in 2002 while the third phase was handed over in 2006.