Construction of property in Dubai underway

The construction of a new multi-million pound property in Dubai has begun after negotiations were finalised.

Industry specialist Memon Investments has started work on the Gardenia I and II development in the luxury Jumeirah Village.

The project will cost AED 150 million (£28 million), with interest from investors currently very high, the firm claims.

"We are thus pleased with the warm response this project has received, which provides us with the motivation to fast-track development," says Rizwan Shaikhani, joint managing director of the company.

He adds that the project is going ahead despite the global economic issues currently affecting many developers.

The scheme has a Mediterranean style and will include one and two-bedroom apartments and studios, with a completion date set for next year.

Other homes in the Jumeirah Village include Arabic villas with terraces which overlook the scenery, providing overseas investors with traditional-looking property in Dubai.