THE LEVANT – Deyaar Development on Sunday unveiled the masterplan of its upscale AED3.5 billion ($952 million) ‘Midtown by Deyaar’ project which will include a total of 27 buildings.
The 5.5 million sq feet masterplan comprises two hotels on the northern and southern tips, along with 13 separate residential buildings on the east side of the development, and 12 buildings clustered into four groups.
While three buildings are joined into one group on the west side of the masterplan, all the 27 buildings will share a one level podium covering retail, parking, and essential services, the company said in a statement.
The development will be located adjacent to Jumeirah Golf Estates on the southern end. The development overlooks Sheikh Mohammed Bin Zayed Road and the skyline of Dubai such as Dubai Marina, Emirates Hills, Jumeirah Lake Towers, Jumeirah Islands, and Jumeirah Village Circle from the northern side.
With the downtown and uptown areas of Dubai already established, Deyaar said it has followed the example of global cities such as Atlanta, Tokyo, Toronto, Miami and Manhattan in creating a ‘midtown’ to define their residential areas.
It added in a statement released on the first day of Cityscape Global that the project has been designed by the renowned Dutch architect Rem Koolhaas.
Saeed Al Qatami, CEO of Deyaar, said: “We are happy toannounce the showcase of ‘Midtown’, which is set to prove an exceptional addition to our product portfolio and complement Deyaar’s pivotal role in the development of the region’s property landscape.
“‘Midtown’ will continue Deyaar’s tradition of quality projects taking design-led luxury living to a new level in the region. This project will create a distinctive ‘cultural’ ambience that enriches the lifestyle of its occupants.”