Al Habtoor Group (AHG) unveiled its plans to carry out three huge residential projects, in various areas in Dubai, in 2023 with a total cost of AED 9.5 billion
Khalaf Ahmad Al Habtoor, Founding Chairman of Al Habtoor Group, stated that "the new projects include residential towers, and one of them will be the largest in the world in terms of size and number of apartments." He added that "the strong economic recovery in Dubai in 2022 and the high development levels that have reached new heights not even witnessed before the covid-19 crisis, were encouraging factors to be involved again in the real estate sector and increase investments in new quality projects."
"The first project is located in Al Habtoor City that includes residential towers, with one of them being the largest in the world. The complex is a vital destination for hospitality and entertainment. The construction costs amount to AED 4.5 billion. It is a vertical community that caters to all lifestyle needs with over 20 amenities including a panoramic infinity pool overlooking the magnificent Dubai skyline," added Al Habtoor.
He explained that the second real estate project is "a unique residential development in the Habtoor Grand Resort in JBR, with a cost of AED 2.5 billion. This project will boast exceptional amenities and scenic views of the Dubai coastline and cityscape."
Concerning the third project, the Founding Chairman of AHG said: "It involves the re-development of the Habtoor Tower in Marina. The project worth AED 2.5 billion will consist of replacing the existing Habtoor Tower by a much larger and ultra-luxurious residential tower in the heart of the Dubai Marina with magnificent unmatched views of the Marina."
Al Habtoor stressed that that "the expanded portfolio will be financed internally. AHG considers that these expansion projects are a necessity and a clear reflection of the Nation’s Leadership and vision resulting in a growth of the UAE economy at an unmatched pace by any other country." He added that "the United Arab Emirates in general, and Dubai in particular, has always been a safe haven for a multitude of nationalities, and we see it being safer than ever with all the enhancements making it the best place globally for investment and attractive returns."