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Empire Developments, a new UAE-based developer, plans to build “affordable” mid-luxury projects in Dubai.
The new company is a joint venture between two Dubai-based companies - EssKay Holdings and Peace Home Real Estate.
The number, value and location of the projects will be unveiled later this month, the company said in a statement.
“Empire Developments aims to focus on the affordable housing sector to cater to the expanding mid-income and salaried expatriate population in Dubai,” said Ahsan Rasheed, Chief Executive Officer of Peace Home Real Estate Group.
Meanwhile, Kamran Ghani, Chief Executive Officer of Empire Development, said the company is in the final phase of handing over its first residential project, Empire Residence, in Jumeirah Village Circle.
(Writing by P Deol; Editing by Anoop Menon)
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