DUBAI: In response to the recent market demand for affordable housing, real estate developer, Dubai Properties, DP, recently awarded an Dh541 Million contract to Engineering Contracting Co. LLC (ECC) for an 18-building expansion of its Remraam community in Dubailand.
According to Colliers International’s latest report, almost 50 per cent of the households in Dubai earn between Dh9,000 to Dh15,000 per month, creating a gap in the market for affordable housing which Dubai Properties is aiming to bridge.
Mohammad Al Habbai, Chief Officer for Urban Planning and Infrastructure at Dubai Properties Group, said: “Our aim at DP is to develop projects that meet the needs of the market. With the current increased demand for residential properties in the mid-income sector, and giving Remraam’s popularity in this particular segment, these additional building units are designed to respond to the needs of the population.”
