Dubai-based developer TownX has appointed Ocean Stone as the main contractor for its 662 million UAE dirham ($180.23 million) Ashley Hills project.

The project houses 616 residential units and spans over 400,000 square feet of saleable area in Arjan, the developer said in a statement.

Ashley Hills is expected to be completed in phases, with handover timelines to be confirmed as the project progresses.

The developer has also begun collecting expressions of interest (EOIs) from potential buyers and investors.  

Since its inception in 2017, TownX has developed over 1,774 units and has 2,125 apartments under development. Its real estate portfolio is valued at AED 4 billion.

(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.