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DUBAI, UAE-Emaar Properties, already developing the tallest building in the world, has now announced that it will spend about $3.2 billion (US) on Mushrif Heights. The 44-million-sf property is near Al Awir and is close to Mushrif park, according to the company in a statement.

The company is already building the Burj Dubai, the world’s tallest building, and the Dubai Mall, one of the largest retail centers ever developed. Emaar is also developing the $26.6 billion King Abdullah Economic City, the region’s largest private sector-led project in Saudi Arabia. The firm holds a 30% equity in Dubai Bank.

Mushrif Heights will be an integrated neighborhood of villas, townhomes and apartments, surrounded by parks, walkways and landscaped gardens, the company said in a statement. Also included in the development will be a school, town centers, a mosque, retail outlets and other leisure and recreational activities, all overlooked by a hill sanctuary, according to the statement. The first phase will start Aug. 23, the company said, but did not explain what would be completed in that phase. Company officials did not return a request for comment on this story.

The design will include green features, the company said in the statement. “Sustainable developmental initiatives are gaining importance today, with Dubai already having taken the lead in designing and promoting green, energy-efficient buildings,” said Ahmad Al Matrooshi, managing director of the company, in the statement. “Mushrif Heights is part of Emaar’s commitment to this social responsibility, and we are creating a new eco-friendly community where the focus is on integrating every day living with the natural environment.”

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