Farglory Group has launched the first tower of its four high-rise ‘Al Maryah Plaza’ cluster at the prestigious Maryah Island master-development. The project cost is estimated at $1bn and is to be completed by 2020, Zawya reported.This week’s sales launch confirms that private developers are willing to come out with select projects to test investor acceptance. Until now, the majority of new project releases have come from government owned Aldar Properties. Earlier this year, during the run-up to the Cityscape event, there was an impression that other developers would join in with their own releases. But, with a few exceptions that did not happen, and quite unlike in Dubai where private developers are now getting into the act.
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