By Amr Adel

Dubai – Mubasher: Binghatti Developers is targeting new investments in Dubai’s middle-income housing projects at a total value of AED 1 billion till 2017, announced CEO Mohamed bin Ghatti Aljbori.

The company launched today its second real estate project in Dubai at an investment cost of AED 170 million, the top executive told Mubasher.

Aljbori also said that Dubai’s residential sector has witnessed strong demand across all segments in 2014 and this trend has continued into 2015.

“Testimony to this is the increase in the number of property developers who are launching projects across the UAE. There is an excess of developers focusing on the higher end of the residential market, we feel that the demand for affordable, mid-segment properties is far outpacing the available supply and that this segment will continue to experience growth in Dubai and the region as a whole", added Aljbori.

Translated by Sayed Abdel Rahman