Damac Properties buys $343m land in Dubai
DUBAI, February 18, 2016
Dubai-based developer Damac Properties has purchased land in Dubai for Dh1.26 billion ($343.1 million), it said in a statement on Thursday.
The plots, located on the eastern and western sides of Sheikh Zayed Road close to the emirate's Dubai Canal project, will add around 4 million sq ft to the company's land bank, the statement said.
The land was purchased through the company's subsidiary, Damac Properties Development, it added.-Reuters