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Meraas launches Jumeira Gardens project

Dubai-based developer Meraas Development has formally launched its AED350bn ($95bn) Jumeira Gardens project in Dubai.

The mixed-use project covers two main areas: the redevelopment of land in the Satwa area between Sheikh Zayed road and Al-Wasl road and from Al-Dhiyafa street to the new Creek extension in the Safa Park area, and seven offshore islands.

The first phase covers an area of 820,000 square metres. It will have six main blocks of high-rise, mid-rise and low-rise office, residential and retail buildings, as well as two hotels and a shopping area.

Landmark buildings that will be constructed as part of the project include 1 Dubai, which will be one of the tallest and largest buildings in the world and will have three towers; the Park Avenue tall tower; and Park Gate which will be made up of six paired towers that will span a canal running through the development.

Construction of the first phase has already started and the first buildings are due for handover in the fourth quarter of 2011. Final completion of phase one is set for the fourth quarter of 2013.

The overall project will take 12 years to complete

Source: MEED