Gemini Property Developers, an India-based company, has announced its foray into the UAE property scene with a high-end luxury residential building in Mohammed Bin Rashid (MBR) City in Dubai.
MBR City, a mega multi-billion-dollar development, includes a shopping mall, park equipped to receive 35 million visitors, a leisure and entertainment set up in collaboration with Universal Studios, more than 100 hotel facilities and art galleries.
The real estate arm of India's Gemini Energy Group will soon be launching its debut project - a 134-unit luxury apartment tower in MBR City, reported the Emirates 24/7, citing a senior official.
"All our future projects will be predominantly in the residential segment and we will explore all projects that cater to different budgets and price points," the managing director Sudhakar R Rao was quoted as saying in the report.
In future, Gemini Property Developers may also venture into commercial or mixed use projects as it wants to have a range of projects catering to all market segments.
Dubai’s real estate sector has attracted a growing number of investors and expatriates over the past few years, thus increasing demand for housing, especially affordable housing, said Rao.
The Indian developer said the property prices in Dubai were likely to dip marginally, but not substantially. “We plan to build during this period so that we can start selling when the market bounces back,” he added.
India's Gemini plans luxury apartment tower in Dubai
Gemini Property Developers, an India-based company, has announced its
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