REMRAAM™ Achieves Significant Milestone as RERA Certifies Over 70% Progress at Upcoming Community

Dubai-UAE: 5 March, 2011 – Dubai Properties Group, a member of Dubai Holding, today announced the Real Estate Regulatory Authority (RERA) of Dubai has confirmed that REMRAAM™ has exceeded 70 per cent construction progress as of 2 February 2011.  Over 90 percent of buildings are currently full height at this distinctive residential development in the heart of DUBAILAND®

Road construction is well under way on many interior pathways, while landscaping design works have also commenced, to create the unique desert garden settings at this family-friendly community. Dubai Properties Group (DPG) has also confirmed that the 132Kv substation is being finalised to support REMRAAM’s power needs.

 

The drainage and sewerage system work is more than 90 per cent complete, while the development’s water and irrigation system has reached 75 per cent completion. The internal and external paint works continue with simultaneous installation of interior fixtures including light fittings, sanitaryware, wall units and ceramics.

Khalid Al Malik, Group CEO, Dubai Properties Group, said:  “We are making significant progress at REMRAAM and we expect to receive the first completed buildings from the contractor this month. With handover imminent, we look forward to welcoming residents to their new homes at this highly anticipated community this year.”

In addition to key construction milestones, the project has achieved notable progress on the regulatory and commercial fronts. In compliance with the Strata Law, DPG finalized the Purchaser Disclosure Statement and the Joint Ownership Property Declaration (JOPD). DPG is also establishing the Owner’s Association for REMRAAM. Furthermore, a host of mortgage providers are working in close partnership with DPG to address REMRAAM customers and bring payments up to date, demonstrating confidence in the community

The community development is strategically situated in the rapidly expanding “New Dubai” between the Jebel Ali Free Zone and Arabian Ranches. Located off of Dubai Bypass Road, REMRAAM also offers easy access to Sheikh Zayed Road and Emirates Road, placing it in proximity to the city's prime commercial and residential districts. The community is also within 10 minutes from Al Maktoum International Airport expected to open for passenger operations later this year.