Following a $3 per barrel average global price increase in March, petrol prices for April increased by 12 fils per litre in the UAE
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Deyaar Development has announced a residential, serviced apartment and hotel property called South Bay, valued at Dh1 billion in Business Bay.
The 63-storey South Bay will offer views of The Tower at Dubai Creek Harbour and Meydan Racecourse.
South Bay will be Deyaar's first project with three accommodation components: residential, serviced apartment and hotel units. It will comprise 926 units, from studios through to three bedrooms, of which 448 will be residential, 133 will be serviced apartments and 345 will be hotel units operated by a multinational hotel brand.
This contributes to Deyaar's expanding hospitality property portfolio, comprising 478 of the more than 2,000 keys that the company will add to the hospitality sector in Dubai by 2020.
Residents will enjoy hotel amenities, including a gym, swimming areas, mini golf and more.
Saeed Al Qatami, CEO of Deyaar, said: "South Bay will be the perfect addition to our growing portfolio. Business Bay is one of the most exciting neighbourhoods to be in today, and South Bay will be in the very centre of the city's leisure and business district."
The official sales launch for South Bay will be announced in the coming months.
- business@khaleejtimes.com
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