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Dubai-listed developer Deyaar Development will build a new luxury tower that is estimated to cost more than 650 million dirhams ($176 million), according to a disclosure on Friday.
The 32-storey luxury tower project called “Tria” will be constructed on a built-up area of more than one million square feet in Dubai Silicon Oasis (DSO), an integrated free zone technology park, the company said in a statement to the Dubai Financial Market (DFM).
The tower, which will feature residential units equipped with smart-home automation and other eco-friendly features, is set to be one of the largest residential developments in Silicon Oasis, Deyaar noted.
Units to be offered will include studios, one-, two- and three-bedroom apartments, as well as townhouses, duplexes and penthouses.
The developer said it looks to tap into a growing market of residents that choose to live in the DSO community. The self-sustained community is home to a population of 90,000 and a total of 215 buildings and 890 retail shops.
(Writing by Cleofe Maceda; editing by Seban Scaria )
