Boutique property developer, Abyaar and Dubai based Mada'in Properties have announced a joint venture beginning with two new projects. Marzooq Al-Rashdan, vice chairman and managing director of Abyaar, said the projects, worth a total of SR3 billion, mark the start of a long-term partnership between the two companies who specialize in modern, high-end development. The first proposed project will be located in the prestigious Dubai Marina and will comprise of 107 exclusive units, along with townhouses. Construction of the tower is scheduled to commence during the second half of 2008. The next joint project is located in the much sought after Meydan master development. Meydan is located near Nad Al-Sheba in Dubai - an area renowned for its hosting of the exclusive Dubai World Cup. Combined plots with total buildup area of 884,815 sq ft will be developed for a mixed-use development including residential, commercial and retail. The building kick-off is scheduled for the first quarter of 2009. __
