Emaar awards contract worth Dh599mn for Warsan realty project in Dubai
Emaar Properties, a leading property developer in Dubai, has awarded a contract worth Dh599 million to Arabtec for designing and developing 550 residential units in the 3.4 million square foot Warsan development, located on Al Awir road. This means each residential property in Warsan real estate development, costs a little more than Dh1.08 million to construct alone.
"You have to take it case by case. Some developers like Emaar, are quality-driven and there are private developers who are just in it to make a quick buck and then get out," a property analyst said.
The real estate analyst suggested there does not appear to be much improvement generally, in the quality and maintenance of buildings in Dubai, although the property developers are raking in the profits.
