Dubai Investments, a leading, diversified investments conglomerate, said 45 per cent of the grading work and levelling of the roads has been completed at its upcoming project, The Palisades, within the Dubai Investments Park.
The mixed-use project, which spreads over an area of 13 million sq ft, is being exclusively managed by Dubai Investments, through the Palisades Development Company.
The earthwork grading and levelling of the roads contract was awarded to the UAE-based Arabtec Construction and is expected to be completed by this September.
The project, which boasts a total built-up area of 22 million sq ft, offers a range of residential, retail, office and recreational attractions.
The Palisades is easily accessible and well connected with public transport infrastructure, RTA bus and Dubai metro network, and in close proximity to Expo 2020 site, Jebel Ali port and industrial area, Al Maktoum International Airport, Dubai South and other business districts in Dubai.
“The masterplan of The Palisades is aligned with current market requirements. The infrastructure within the project is being developed in phases at a total cost of Dh580 million ($158 million),” remarked Khalid Bin Kalban, the managing director and chief executive of Dubai Investments.
The infrastructure work includes construction of two 132 kV sub-stations, district cooling network, sewage and irrigation systems, fire-hydrant networks, streetlights, green parks and public facilities, he added.
According to him, The Palisades has been divided into plots of varying sizes, ranging from 60,000 sq ft to 600,000 sq ft, and earmarked for development. The plots will be sold to investors who will develop as per the designed masterplan, he stated.
Palisades Development Company is also offering easy payment plans for investors in the project, payable over a period of three years, he added.