Dubai Investments has awarded Arabtec Construction with the contract for earth works grading and leveling of the roads for its The Palisades project in Dubai Investments Park (DIP).
Grading work is almost 45 percent complete and expected to be completed by September 2017, Dubai Investments said in a statement.
The mixed-use project is spread across 13 million square feet with a total built-up area of approximately 22 million square feet and offers a range of residential, retail, office & recreational attractions.
The master plan of The Palisades is aligned with current market requirements. The infrastructure within the project is being developed in phases at a total cost of AED 580mn, said Khalid Bin Kalban, Managing Director and CEO of Dubai Investments.
Infrastructure is also underway and includes construction of two 132KV sub-stations, district cooling network, sewage and irrigation systems, fire-hydrant networks, street lights, green parks and public facilities.
The Palisades has been divided into plots ranging from 60,000 square feet to 600,000 square feet, and earmarked for development. The plots will be sold to investors who will develop as per the designed master plan.
Palisades Development Company is also offering easy payment plans for investors in the project, payable over a period of three years.