Mega $2.1-B ‘1 Central’ Project Launched In Dubai
The mixed-use project will be developed by the Dubai World Trade Centre Authority
A mega new Dhs 8bn ($2.1-B) mixed-use project named ‘1 Central’ has been launched in Dubai, it was announced Wednesday.
The project will include hotels, residential, commercial and recreational facilities.
Located in the Dubai’s central business district, the project will be developed by the Dubai World Trade Centre Authority.
Dubai’s Ruler His Highness Sheikh Mohammed bin Rashid was briefed on the engineering design and the outline of the project Wednesday.
Dubai has seen an increase in new property launches in the last few months despite a general slowdown in the market.
Last month, Dubai Properties Group launched a massive new residential development in Dubailand called Serena spread across approximately 8.2-M sqf . The 1st phase launch within the project sold out in a “few hours”, the developer said.
Meanwhile luxury developer Damac also unveiled a Dhs 7.4-B ($2.1-B) 6-Tower project, Akyon City, close to the upcoming Dubai Canal development.
The 4-M sqf project includes residential and leisure elements including Aykon Dare, an adrenaline experience on the 80th floor of the hotel where guests get to walk outside the Tower’s roof.
By Aarti Nagraj
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