In another sign that Dubai’s property market come back, a $1.9bn residential development that was halted after the 2008 property crash will begin handover by the end of the year.Â Â
Dubai’s "Living Legends" scheme comprised a 500 villas and 12 apartment blocks grouped around a golf course and a shopping mall. It will be connected to the IMG Worlds of Adventure project, and will form part of the Dubailand complex.Â
Dubailand is set to cost $64.3bn in total and will be built over an area of 278km2. Muhammad Bin Odah, Tanmiyat CEO says that "The Living Legends project today is at an advanced stage and I am working very closely with the team to maintain the schedule and upgrade the quality and maximise our supply to meet the market demands."
The December deadline is later than was predicted last year.
Mohammad Al Hajjar, customer relations officer at Tanmiyat, told the Zawya website: "We restarted construction about one and half years ago.
Today we have 1,300 workers on site and around 50% of the development is now complete. Starting June 2014, we will hand over 500 villas and four apartment buildings, the retail and golf course."