Continental Investments, a subsidiary of Egypt-based Landmark Sabbour, has launched Rukan Residence complex in Dubai with investments of $272 million (AED 1 billion).
The mixed-use residential complex, spanning 241,547 square metres, was launched by the Egyptian property developer on 11 March 2018 at the Armani Hotel, Burj Khalifa, Construction Week Online reported.
Rukan Residence will offer luxurious property in Dubai, in line with maintaining a distinctive Arabian aesthetic identity, according to the real estate firm.
The complex will be constructed next to the Arabian Ranches development, showing off a range of serviced apartments, high-end apartments, studios, villas, townhouses, and twin houses.
It is worth note that about 70 percent of the project will be earmarked to open areas and green landscapes
Commenting on the launch of Rukan Residence, CEO of Continental Investments Ahmad Sabbour said: “The 2.6 million-square-foot project reflects the increase in demand in the real estate sector in Dubai.”
“We are confident in the ability of Dubai’s market ability to draw foreign investment, providing returns that are from the top regionally,” he continued.
Given that Sabbour previously said that Landmark Sabbour is currently considering dual-listing on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM).