Dubai developer unveils $700m Texas project

Frisco development will start construction in Spring 2015, for completion in Summer 2019

Dubai-based developer Invest Group Overseas (IGO) unveiled plans for a $700 million development in Frisco in the US state of Texas at the Cityscape Global property exhibition taking place in Dubai this week.

The 41-acre luxury mixed-use project is called The Gate and will be located on the northwest corner of the Dallas North Tollway and the future John Hickman Parkway.

“The development will offer a refreshing take on the live, work, play environment in one of America’s fastest-growing cities,” CEO Anas Kozbari was quoted as saying by the Dallas Business Journal.

“When completed, it is poised to be a hub of opportunity for the businesses and residents who will make The Gate their address of choice.

Plans for the project include high rise apartment residences, a boutique hotel, destination retail and dining, office space and green areas.

“While the site plan for The Gate is still conceptual, this dynamic development is on target for Frisco,” Frisco Mayor Maher Maso said.

The Gate is expected to start construction in Spring 2015, to be completed by Summer 2019.

“The mayor of Frisco was here in Dubai ten days ago to have a look around, along with the Frisco Economic Development Corporation, and they were astonished,” Kozbari told Arabian Business in April.

“The concept [we are building in Frisco] is very close to the Downtown concept you see here, with a nice shopping area, residential and office spaces and also a hotel.

“Our office in the US is working day and night on the designs, and we’ve already Gensler [a US design and architecture firm] as one of the contenders to do the masterplanning — they’ve done a great job so far.”