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Dubai-based developer Deyaar is to build real estate projects worth AED 300 million ($81.7 million) in Al Furjan, which will include a total of 400 hotel apartments and homes.
The first project, Amalia Residences, which will include one to three-bedroom properties, while the two remaining projects will be announced in 2023.
Nasser Amer, vice president of sales at Deyaar, said the company was offering payment plans of up to five years and an exemption from real estate registration fees.
Deyaar announced earlier this month that it had received AED 200 million ($54 million) in a first payment following an AED 500 million dispute related to the purchase of land with developer Limitless.
(Writing by Imogen Lillywhite; editing by Cleofe Maceda)
