Egyptian-owned property developer Continental Investments will build a $272m (AED1bn) mixed-use residential complex in Dubailand called Rukan Residence.

The 241,547m² complex was launched by Continental Investments, a subsidiary of Cairo-based Landmark Sabbour, at the Armani Hotel, Burj Khalifa, on 11 March, 2018.

Rukan Residence will offer upscale property in Dubia, while retaining a distinctive Arabic aesthetic identity, according to the developer.

READ: MAG LD inks $82m main contract for Dubailand

It will boast a range of serviced apartments, villas, townhouses, twin houses, studios, and high-end apartments.

Around 70% of the project, which will be built next to the Arabian Ranches development, will be allocated to open areas and green landscapes.

Ahmad Sabbour, CEO of Continental Investments, said: “The 2.6 million-square-foot project reflects the increase in demand in the real estate sector in Dubai.

"The retail spaces, entertainment facilities, and homes are surrounded by green areas with designs that reflect our main priority: that residents experience a positive and inspiring environment with strong humanitarian values. We are confident in the ability of Dubai's market ability to draw foreign investment, providing returns that are from the top regionally.”