Bengaluru, July 29 -- Chennai-based developer Casagrand has signed memoranda of understanding (MoUs) for two residential projects in Dubai, which is seeing a cooling real estate market amid the war in West Asia.

The two new projects-a high-rise and a low-rise development-have a combined gross development value (GDV) of Rs.1,000 crore. These are located in two different places in Dubai and will be developed through the joint development route with respective local partners, as per a top company executive.

The Dubai property market, which has performed well in recent years, has been attracting Indian developers over the past two years. While the West Asia war may have slowed down plans for many developers, it has also created opportunitie...