Apex Real Estate announces $544m residential project in Dubai

30 September 2014 (Last Updated September 30th, 2014 03:18)

Chinese real estate developer Apex Real Estate Development has announced plans to build a new residential project named The Royal Gardens in the Mohammad Bin Rashid (MBR) City, District Eleven master development in Dubai.

Chinese real estate developer Apex Real Estate Development has announced plans to build a new residential project named The Royal Gardens in the Mohammad Bin Rashid (MBR) City, District Eleven master development in Dubai.

The $544m project will cover an area of 557,000m² and have 878 residential units, including townhouses and villas.

According to the company, the project will be a fully serviced master planned community in-line with Dubai Municipality's green code building regulations.

"Given the regional unrest, Dubai is presently the safest and most secure place for regional investors."

Apex Real Estate Development sales and marketing manager Mustafa H Yassin was quoted by Emirates 24|7 as saying: "The Royal Gardens is our inaugural project and our main goal is to provide luxury living at affordable prices."

Project director Samir Abo-Atiaa told bncnetwork that: "Given the regional unrest, Dubai is presently the safest and most secure place for regional investors.

"Its multicultural nature makes the place all the more attractive for investors, which is why our Chinese partners chose to develop this project in the Emirate."

Apex is collaborating with Lebanese-based consultancy firm, Khatib and Alami, Chinese firm Zhubo Architectural & Engineering Design, and Dubai-based management and marketing consultancy company Andarakis Advisory Services.

Construction work on The Royal Gardens is expected to start early next year and complete by 2019.