Deira set to reclaim Dubai's property momentum | GulfNews.com:
"Dubai’s traditional commercial heartland — Deira — gets an opportunity to reclaim centre-stage as Nakheel opens sales for 94 plots on two of the “Deira Islands” on Sunday. All of the plots have been marked for hotels and resorts, with easy access to water, and should take anywhere around three to four years to complete.
The plots would be between 80,000 to 67,000 square feet. Together, they comprise more than 12 million square feet of untapped land.
“What the release of so many plots simultaneously does is help set a possible new benchmark for land values on the Deira side, which had — until now — reached a certain saturation level in terms of land for development,” said Cecilia Reinaldo, who heads the UAE operations of Fine & Country, a realty services firm.
“In contrast, all of the action had been concentrated on New Dubai, where plot values could be between Dh150-500/600 a square foot [on built-up area] depending on the location. Nakheel’s plot sales give Deira the opportunity to catch some of that momentum.”"
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