Two construction groups from Saudi Arabia and the United Arab Emirates have begun work on a 30-luxury villa project in the Tel Emirates suburb of Dubai, officials said. The Arabetic Emirates Group and the First Saudi Trading Group bought several plots of land in the Tel Emirates, or Emirates Hills, suburb near Sheikh Zaid Street that connects Dubai to the capital Abu Dhabi,
for 70 million dirhams ($19 million).
The land, which was sold by the Emirate Amar real estate company, is part of Amar’s Tel Emirates luxury housing project. This is the first joint development project between the two groups. Amar announced plans for the Tel Emirates project in October of 1999
Ibrahim Sharbetli, of the Saudi Trading Group said the suburb’s setting of lakes and gardens would make the villa project in high demand and a financially rewarding venture for the group.
The villas, which Amar has already built four models of, will be built over 15,000-30,000 squared meters per plot of land. The project includes an international standard golf course gardens, mosques and 24-hour security services. — (Albawaba-MEBG)
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