Jumeirah Lakes Towers (JLT) to get another residence:Dubai-based developer Danube Properties will develop 65-story twin towers, estimated at a development value of AED 2 bn, at JLT, after inking an agreement with Dubai Multi CommoditiesCentre (DMCC), according to a Dubai Media Office statement. The towers will house 1.2k residential units across approximately 158k sqm, adjacent to DMCC’s Uptown Dubai district. The project is currently in the design phase.

JLT is seeing high demand: The new residence meets growing demand for properties in JLT, which currently accommodates 100k residents, according to DMCC CEO Ahmed Bin Sulayem.

Background:DMCC previously partnered with Danube in January 2023 (pdf) to construct two high-rise towers in Cluster K of JLT under a project dubbed Viewz. The fully-sold towers were valued at AED 1.4 bn, making it Danube’s largest project. DMCC also licensed developers Ellington Properties Partner and Sobha Realty Partners last year to boost JLT’s residential offering.

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