Developer says $410m Dubai project on track for end-2019 completion.

Developer Shapoorji Pallonji (SP) has announced that its Imperial Avenue tower project in Dubai is now 40 percent complete and on schedule for handover by December 2019.

The luxury residential project, located in Downtown Dubai, is the company’s flagship project in the UAE.

Construction of 28 floors has been completed in less than two years on the project which is valued at over AED1.5 billion ($410 million).

“We are very pleased with the progress of Imperial Avenue and delighted to announce that we are currently on schedule for a timely completion in twelve months,” said Cyrus Engineer, managing director at SP International Property Developers.

“SPIPD prides itself on serving clients with transparency and honesty to meet contractual handover date. This confirms our commitment to our investors.”

He added: “The property market in the UAE is seeing early signs of resurgence leading to renewed optimism and we have been closely monitoring this trend.”

Imperial Avenue consists of 424 apartments and five levels of parking.

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