Damac says residential tower shows their faith in Dubai market.
New residential high-rise planned for Dubai Maritime City
DUBAI // Plans to build a luxury seafront high-rise in Dubai Maritime City have been announced by developer Damac.
The tower in Dubai Maritime City will include serviced hotel apartments and a leisure area.
"Dubai is back in a big way," said Damac's managing director Ziad El Chaar. "This investment is a testament to the resurgence and our confidence in the market."
Damac has already completed 37 buildings in the Middle East and has 66 in development across the Mena area, including the US$1 billion (Dh3.67 billion) Paramount Pictures hotel project in Downtown Dubai.