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Dubai-based Deyaar Development announced on Sunday the launch of Regalia, a 1-billion UAE dirham luxury residential skyscraper in Business Bay.
The developer said in a press statement that construction of the 70-storey building will start in August with completion scheduled for December 2024.
Deyaar said the project will feature "a wide range of recreational and wellness amenities, social amenities, and smart city technologies
Listed on the Dubai Financial Market and majority-owned by Dubai Islamic Bank (DIB), Deyaar has delivered more than 20 million square feet of developments in Dubai.
In May, Zawya Projects had reported that it would deliver Phase 3 and 4 of its ongoing Midtown integrated residential project in Dubai Production City six months ahead of schedule.
The DFM-listed developer's losses for 2020 hit 216.9 million UAE dirhams ($59 million), following a profit of 71.5 million dirhams in 2019.
(Writing by N Madhura; Editing by Anoop Menon)
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