Dubai Contracting Company has won the contract to build the Marquise Square development in Downtown Dubai.
Developer SRG and global property investment firm Select Property have launched sales in the exclusive development which is scheduled for completion in Q4 2018.
The 29-storey building will address the shortage of studio apartments in the area by providing 237 studios as well as 59 one-bedroom, 70 two-bedroom and 8 three-bedroom apartments. Sizes ranging from 474 to 2,323 square feet and prices starting from AED 895,000.
Emirati developer SRG is behind the Sheraton Grand Hotel and the 56 floor Burj Al Salam Towers, and has delivered a large portfolio of projects across Dubai and London.
Select Property is a global developer, retailer and operator of property investment brands, and is the exclusive sales and marketing agent for the scheme.
Speaking about the development Adam Price, Managing Director of Select Property Middle East, said: Theres a surprising undersupply of studio apartments in the area due to the huge strains placed on developers to provide sufficient car parking spaces.
Marquise Square has been designed to address this undersupply by offering residents large studio apartments with dedicated parking spaces for each unit along with many other amenities