Dubai-based KASCO Group announced on Thursday the official launch of its real estate subsidiary KASCO Developments with a portfolio of three residential projects worth 1.2 billion UAE dirhams ($327 million).

The parent company’s portfolio in Dubai includes Waves Tower by KASCO, KASCO Residence, KASCO Tower, and Gulf Oasis.

With a vision to develop and sell 1 million square feet of residential projects by 2025, KASCO Developments plans to introduce more forward-thinking real estate concepts, incorporating modern design trends and technology, the statement noted.

It said the venture will initially focus on Business Bay and Al Jaddaf.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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