The establishment of DP follows DPG’s announcement last week on its new structure as a holding company
Dubai Properties Group, or DPG, the property development arm of Dubai Holding, has established Dubai Properties, or DP, which will focus solely on delivering an integrated, end-to-end project development solution for the group and to meet the growing demands of real estate investors in the region.
The establishment of DP follows DPG’s announcement last week on its new structure as a holding company.
Under its new remit, DP will be responsible for the ongoing development of a growing portfolio of retail, commercial, residential and mixed-use projects. For all new and existing built-to-sell, or BTS, projects, DP will manage the entire spectrum from project building to sales to handover services upon completion.
The company will include structural, engineering and business development departments as well as dedicated sales, marketing and customer service.
A brand refresh will also be revealed through a marketing campaign due to be rolled out in the coming months.
Khalid Al Malik, group chief executive officer of DPG, said: “Following the strong performance of our BTS portfolio and the forecast for the regional real estate industry, we made a strategic and logical decision to refocus Dubai Properties’ remit to become a dedicated development company. This will increase our competitiveness in the market, facilitating quicker and more focused delivery for new projects, maintaining our position as one of the leading developers in Dubai’s growing real estate industry.”
As DPG’s dedicated development company, DP will now be commercially and operationally responsible for developing projects, including Dubailand’s Mudon, Business Bay Towers and Maraya Residences in Business Bay, in addition to the city’s first creek-side destination, Culture Village.
Maraya Residences in the Burj Khalifa District will offer a range of luxurious apartment and penthouse options with panoramic views of Dubai. Maraya Residences will include a business centre and state-of-the-art gym, pool and sun deck along with a variety of community retail outlets, offering residents a unique community living experience.
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