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IRIS unveils AED 5 billion investment plan
| Property developers IRIS are launching approximately 1,000,000 square feet of commercial and residential units during 2008. |
Over the coming year the company will add 270 apartments and 300 commercial units in Business Bay, Dubai Marina, Culture Village and Maritime City.
First to be built is a AED 100 million residential project in Culture Village at an approximate Gross Leasable Area (GLA) of 47,000 square feet, which will be officially unveiled at the SIMA 2008 Property Exhibition this month. Followed by a AED 600 million commercial project in Business Bay, covering approximately 278,000 square feet of Gross Leasable Area. The third phase will be a AED 2 billion residential project in Maritime City which will be developed on an estimated area of 800,000 square feet of Gross Leasable Area.
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