Dubai Investments on Wednesday announced that its subsidiary Dubai Investments Real Estate Company (DIRC) has completed 25% of the new residential tower at Al Barsha 1.
The company noted that excavation and substructure work on the project was already 100% complete, according to a filing to the Dubai Financial Market (DFM).
Spread over an area of 38,917.02 square feet, the project will offer 399,453 square feet of residential and commercial area.
The new residential tower comprises a mix of 278 units, 132 studio, 122 one-beds and 24 two-bed apartments over 14 levels and a ground floor, the diversified Dubai-based investment group added.
“The Al Barsha 1 project will provide a fresh mixed use between residential and commercial offerings and excellent facilities at a strategic location that benefits the residents and the city,” Obaid Mohammed Al Salami, general manager of DIRC, said.
The tower includes 22,988.48 square feet of commercial area for seven retail outlets, along with a gymnasium, recreational facilities, play area and four levels of covered parking for over 300 vehicles.
“This project is another example of the quality, service and realty solutions that DIRC brings to customers – modern living at affordable prices, as we continue to set benchmarks in excellence within the industry,” Al Salami added.
However, the real estate company has appointed Fujairah National Construction as the main contractor for all construction work on the project.
The project is scheduled to be opened by December 2019.