UAE: Al Habtoor Group unveils $2.59bln three mega projects

UAE: Al Habtoor Group unveils $2.59bln three mega projects

Dubai-based Al Habtoor Group (AHG) has unveiled plans to carry out three huge residential projects, in various areas in Dubai, in 2023 with a total value of AED9.5 billion ($2.59 billion).

Khalaf Ahmad Al Habtoor, Founding Chairman of Al Habtoor Group, stated: "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: "The strong economic recovery in Dubai in 2022 and the 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 for this project will be AED4.5 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 project is "a unique residential development in the Habtoor Grand Resort in JBR, with a cost