Dubai-based Sternon Group, which has been active in local and international property sector for the past 20 years, has unveiled plans to develop real estate projects in Dubai with an investment of Dh300 million.
Sternon Developers, the newly set up division of the group, will execute a number of mixed use projects across Dubai over the next few months. Its first project 'Sternon Tower', a 16-storey mixed-use development in Jumeirah Village South, will begin construction in June 2008.
Located near the Dubai Autodrome, Sternon towers will be placed residential units, consisting of studios, one-, two-, three-and four sleeping penthouse apartments, retail segment, and services all boast high-end, world-class amenities and construction standards. All units will be freehold, and come with residence visa.
"While in Dubai, Sternon has focused on promoting and underwriting properties other developers, but now we are going to develop our own real estate projects, with the support of our experience in the luxury residential and commercial projects in the United States and India” announced Hussaini Nalwalla, Managing Director.
The construction of Sternon Tower Dubai is due to begin in June 2008, and will be completed by December 2009. Plans for the other projects are being finalised.
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