Dubai Developer Emaar Properties has launched a new residential project at its Dubai Hills Estate development.

Park Point, which will comprise a mid-rise residential tower and retail space, is expected to be completed by 2019 and is set to cost approximately $80m.

The developer has not yet revealed when it will be launching the construction tender to build the project.

In September MEED reported that the developer has invited companies to bid by 30 October for the estimated AED2.8bn ($763m) contract to build the shopping mall at its Dubai Hills development.

Emaar invited contractors to express interest in the construction contract in August.

The Dubai Hills scheme covers an area of 11 million square metres and includes gated villa communities, a commercial centre and high-end retail centres, as well as low-rise and mid-rise residences, hotels and serviced hotel apartments.

Dubai Hills Estate is being jointly developed by Meraas Holding and Emaar Properties.