Posted by Neil King
Al Mazaya Holding has said it expects to complete and deliver the Al Mazaya Business Avenue in Dubai during the third quarter of 2010.
The firm says it has completed about 85 per cent of the project, which consists of three towers with 44 floors each.
In addition, Al Mazaya announced that it is continuing with the construction and development of the Villa project after handing over 104 of its units during the second half of 2009.
Located at Dubai Land, the Villa project is comprised of 520 modern residential villas which are designed to cater to the needs of citizens, businessmen and investors.
The company said the Dubai property market had witnessed relative stability during the last quarter of 2009 "with relatively high buy-sell activities becoming evident due to signs of economic rejuvenation and the recovery of mortgage rates offered by capital institutions".
Last month, Kleindienst Group announced that it had begun construction on its Heart of Europe project at the offshore Dubai island development, The World.