Real Estate

Valued at $8.16 billion, Dubai Wholesale City will host 15,000 traders and country pavilions over 550 million sq ft Dubai has embarked on an ambitious plan to develop the world’s largest wholesale city covering 550 million sq ft at an estimated cost of Dh30 billion ($8.16 billion).

Dubai master developer Nakheel is taking its real estate development expertise to Saudi Arabia, where it will provide technical support to leading developer Al Akaria for a range of new, mixed-use projects in and around capital Riyadh.

Work on a new mixed-use project with a water park as its centrepiece will begin in Bahrain this month. A project by the Bin Faqeeh Real Estate Investment Company, Layan is valued at BD30 million ($79.5 million) and is a part of the $1.3-billion Durrat Marina project in the south of Bahrain, overlooking the Arabian Gulf.

A state-of-the-art indoor entertainment destination, Hub Zero will comprise a total of 18 attractions, rides and experiential zones, with a substantial number exclusively developed for the facility.

Kinan unveils new residential units at Jeddah Saudi-based Kinan for Real Estate Development has launched new residential units at Masharef Hills, a major villa project to be developed on a one-million-sq-m area in the north of the Saudi commercial capital Jeddah.