Dubai Properties' Mudon Cities project - to be launched to retail buyers later this year - will cost about AED55bn ($14.9bn), the company's head of projects and business development told MEED’s Dubai Megaprojects 2008 conference on 3 March.
The project aims to create an integrated residential and commercial development providing housing for 45,000 people.
It has been designed in five districts reflecting the architecture of Baghdad, Beirut, Cairo, Damascus and Marrakech. It will be the largest project developed by the local real estate developer.
Mudon will cover 680 hectares near the Bawadi development in Dubailand. “It has five community centres, 3,700 villas, 10 hotels, 26 lakes [and] there will also be an 18-hole championship golf course,” said Haiyan Mujarkech, chief officer for projects and business development at Dubai Properties. Work is to be completed in 2012.
Dubai Properties' existing projects include Jumeirah Beach Residences, which are now largely complete, Business Bay, The Villa, Al-Waha and Cultural Village.
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