With the Dubai real estate market booming, Meydan, part of Dubai Holding Real Estate, has announced a significant expansion of the prestigious District One West development.
The $272 million (AED 1 billion) contract with developer Ginco General Contracting LLC marks the start of the second phase of construction at Mohammed Bin Rashid Al Maktoum City. The decision reflects the growing demand for luxury real estate in the emirate, where real estate transactions reached a record AED 160 billion in 2023.
Premium lifestyle and innovative solutions
The new phase of the development will create 229 exclusive villas designed with the latest trends in sustainability and smart technology. Each residence will be equipped with state-of-the-art smart home systems and energy efficient solutions. The special value of the project is given by its location on the shore of Crystal Lagoon – the largest artificial lagoon in the region, the area of which is more than 7 kilometers.
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The infrastructure of the complex includes:
- Innovative clubhouse with an area of more than 3000 square meters
- Multifunctional sports grounds with professional coating
- A long network of bicycle and jogging paths with a total length of 8 kilometers
- Landscape gardens with smart irrigation systems
- Children’s development centers and recreation areas
Strategic development and investment attractiveness
According to the Dubai Land Department, Mohammed Bin Rashid Al Maktoum City is one of the three most sought-after locations for premium real estate in Dubai. The average cost per square meter here has increased by 15% over the past year, making investment particularly attractive. The completion of the second phase of District One West, scheduled for the first quarter of 2028, coincides with the implementation of the Dubai Urban Master Plan 2040, which guarantees the further development of infrastructure in the area.
The scale of the project is impressive: 60% of the area will be dedicated to green spaces, in line with the global trend towards eco-friendliness and sustainable development. In the immediate vicinity are Dubai’s iconic sites: the Ras Al Khor Wildlife Sanctuary, the Dubai Design District creative cluster and the DIFC financial center.
Read also: Dubai’s Real Estate Market Thrives on Innovative Projects.
Managing Director of Ginco General Contracting, emphasized the importance of the project for the UAE economy: “The construction sector has grown by 8.2% over the last year and projects such as District One West are the key drivers of this growth”. Want to stay up to date with the latest developments in Dubai’s real estate market? Subscribe to the Lyukos news feed – your trusted source for up-to-date information on the most prestigious projects, investment opportunities and trends in the UAE real estate market. Join us and be the first to know about the new stages of development of Dubai’s luxury neighborhoods.
