• Burjzadeh's unique location in the Commercial Gulf region makes it an attractive option for investors and end users
  • This achievement comes as Dubai's real estate market continues to recover 

Dubai, UNITED Arab Emirates: DAMAC Properties announced the completion of concrete work for roofs and structures at the 26-storey Burjzadeh in Dubai's Commercial Bay area. 

In October 2020, DAMAC awarded Transame Emirates Contracting Co., Ltd. a contract worth AED 181 million to start major businesses in Burjzadeh.

"The completion of this important phase of the project at an accelerated pace reaffirms DAMAC's keenness and full commitment to deliver projects ahead of schedule, despite the challenges arising from the Covid-19 pandemic," said Nile McLoughlin, Senior Vice President, DAMAC.

Approximately 23,910 cubic metres of concrete and 4,402 tons of steel were used to complete the overstructure work, while 580,840 individual working hours have so far been recorded in construction work.

Strategically located in the heart of the Gulf commercial region, Zadeh offers many modern service facilities including a swimming pool, a children's play area, a state-of-the-art fitness centre, as well as other facilities. With its privileged location in one of Dubai's most attractive areas, residents will have access to a range of shopping venues, dining outlets, cafes and leisure centres in the vicinity of the tower.

This phase of The Zada Tower's important achievement coincides with the current recovery in dubai's real estate market, as demonstrated by the exceptional growth rates of sales transactions in terms of volume and value over the past months.

Dubai's real estate sector showed outstanding performance in 2021, while experts expect momentum to continue throughout 2022. The emirate recorded 5,797 sales of AED 16.69 billion in January this year, marking the best January ever, according to a report by Property Finder.

Specialists and decision makers in this sector point to the positive role played by Expo 2020 Dubai in attracting foreign buyers to invest in dubai's real estate sector, as well as responding quickly to the challenges of the Corona pandemic by relevant institutions in the uae  and the Dubai Real Estate Market is expected to see a significant increase in value, in conjunction with the change in tenants' long-term attitudes from rent to purchase, with the aim of securing a more stable life in one. One of the most sought after destinations in the world.

Furthermore, visa-related reforms, as well as economic incentives approved by the Government, have contributed to the growth of the sector. Experts expect real estate prices in the UAE to continue to rise in 2022.

DAMAC has successfully launched two new mega-projects: Cavalli Tower, Dubai's luxury tower, and Damac Lagoons, a residential community inspired by the wonders of the Mediterranean, with record sales shortly after launch.

"We are very optimistic about the current positive trajectory of the UAE real estate sector, and we appreciate the government's significant efforts in its successful handling of the Covid-19 pandemic, as well as providing an optimal and attractive environment for investors," McLoughlin said.

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