Emaar Properties has confirmed its previous announcement of identifying a plot of land for sale. The plot in question is located in Downtown Dubai, the property developer announced in a statement to the Dubai Financial Market (DFM) on Tuesday.

Emaar also stated that it has received a number of offers for the plot but no sale agreement has been signed and therefore no sale has yet been concluded.

Earlier this week, Dubai’s largest developer said it was inviting developers to bid for a commercial plot in Downtown Dubai.

Said to be worth at least AED 303 million, this open invite is the first for developers for 2014. According to Emaar, the successful bidder for ‘Plot 8A’ can build a 30-storey high commercial tower, which will have a total gross floor area (GFA) of 505,904 sq. ft. and nearly 5% of total GFA for retail.

“The minimum bid price is AED 600 per sq. ft. (psf),” Emaar added.