DMCC and Danube Properties partner to launch $545mln residential project in thriving JLT District

DMCC and Danube Properties partner to launch $545mln residential project in thriving JLT District

- USD 545 million development brings 1,200 new residential units to the district

- Partnership follows successful sale of Viewz residential units, the first collaboration by DMCC and Danube, in JLT’s Cluster K

- Continued development of its districts is key priority for DMCC as it attracts heightened levels of FDI to Dubai

Dubai, UAE: DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has partnered with Danube Properties to bring a new residential project to its thriving Jumeirah Lakes Towers (JLT) district.

The 65-storey twin towers will bring 1,200 new residential units to JLT across a built-up area of 1.7 million square feet, representing a development value of approximately USD 545 million (AED 2 billion).

Currently in the design phase, the new residential towers will sit adjacent to DMCC’s Uptown Dubai district, bolstering JLT’s status as one of the most popular mixed-use communities in the emirate.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: “Demand for premium residential property across the JLT community is higher than ever, as we have seen with the resounding success of Viewz, our first project with Danube which is fully sold. Boasting a community of over 100,000 people,