Dubai Oasis, a Dubai based real estate developer, has announced that it will invest up to $272.3 million in developing four serviced apartment projects in Dubai Sports City (DSC), Gulf News reported.
The first of the company's projects, Oasis Tower-1 which is part residential and part serviced apartment was opened for sale a few months ago, and is almost completely sold out, the company said in a statement.
The company said that construction of Oasis Tower-1 has already commenced, and it expects to hand over the project on schedule in the fourth quarter of 2008. Oasis Tower-2, the company's second planned project in DSC, was launched in the first week of June and will be an exclusively serviced apartment development.
The company is in the process of acquiring two other serviced apartment projects, which will be launched next year.
Dubai is a city in the United Arab Emirates that is built around the principles of free trade, foreign investment, and sound business practices. It was Sheikh Maktoum bin Hasher Al Maktoum who declared Dubai as a free port in 1901, abolishing all tariffs. The Dubai property market is setting the standards for property development throughout the world more
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Dubai is a city in the United Arab Emirates that is built around the principles of free trade, foreign investment, and sound business practices. It was Sheikh Maktoum bin Hasher Al Maktoum who declared Dubai as a free port in 1901, abolishing all tariffs. The Dubai property market is setting the standards for property development throughout the world
