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Dubai- based developer TownX plans to build a residential community on the 400,000 square feet land plot in Arjan.
The land was acquired for 110 million UAE dirhams ($29.95 million), TownX , which has an AED4 billion project portfolio, said in a statement on Thursday.
The plot will host residential units, landscaped gardens, and community-centric facilities. No further details on the project were given.
TownX has developed 1.04 million square feet of residential space, delivering more than 967 units to date. It is currently constructing 2,125 apartments. The company’s completed portfolio includes Easy18, Easy19, Luma21 and Luma22 in Jumeirah Village Circle (JVC).
The ongoing projects are 11 Hills Park at Dubai Science Park and Luma Park Views in JVC, the statement said.
(Writing by P Deol; Editing by Anoop Menon)
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