Massive student housing project in Dubai set for 2020 completion
Plans to build The Myriad Dubai, an urban styled student housing community in the heart of the Dubai International Academic City (DIAC) have been announced, Arabian Business reported.
With construction expected to commence shortly, it is anticipated that the largest purpose-built, professionally managed student housing property in the UAE on a single plot will be completed by 2020.
Additionally, restaurants, cafes, gaming rooms, an outdoor amphitheatre and convenience shopping options along with dedicated parking will form integral parts of the development.
The contemporary urban styled residential community has also been designed to offer dedicated segregated spaces for young women and men, the statement added.
Mohammad Abdullah, managing director of Dubai Knowledge Park and Dubai International Academic City, said: “Dubai has rapidly transformed as a leading higher education destination in the region, attracting thousands of transnational students yearly. Student accommodation is a critical factor for these students, given that it will be their home for the next three to four years.
“The Myriad Dubai, located in Dubai International Academic City, is being uniquely designed to create a holistic environment complete with a range of facilities for the needs of our students, as well as our universities that require student accommodation.”
The Myriad Dubai project is sponsored by FIM Partners, a Dubai-based emerging and frontier markets investment management specialist.
Fares Bou Atme, vice president of Real Estate at FIM Partners said: “We are believers in this very exciting project, given its strategic location in the heart of DIAC and the clear shortage of purpose-built student housing in a consistently expanding higher education market in Dubai.”
Strategic Housing Group (SHG), a specialist housing turnkey firm will manage the project’s development and its wholly owned subsidiary, The Myriad, will operate it post-completion.