AED 1 Billion Development Project is launched at Dubai Silicon Oasis

Al Futtaim Real Estate, one of the leading property developers in the UAE, announced today the launch of a AED 1 billion development project at Dubai Silicon Oasis, the region's premier integrated innovations hub for high-tech industries.The development will take place over a plot area of 62,820 square metres of land and will be built over three phases, the first of which will endure a cost of AED 200 million and is expected to conclude by the second quarter of 2008. The project will also include residential apartment blocks, serviced apartments, facility and recreation blocks, a ground floor car park with the associated access roads, surface car parks, landscaping, external works and all service utilities.Al Futtaim Real Estate has received the go ahead to initiate construction of the project, which will be regularly inspected by the Dubai Silicon Oasis Authority. Source