The developer Deyaar has signed an agreement with Dubai South on a new 1.3mn square feet project within the district’s residential zone. A memorandum of understanding has been signed between the organisations to set up a 50:50 joint venture with a view to bringing forward the new mixed-use project, which will contain residential, retail and hospitality elements. Dubai South is the master planned city formerly known as Dubai World Central that encompasses the new Al Maktoum International Airport and Dubai’s Expo 2020 site, which will become an exhibition district when the event concludes. Once the site is fully developed, it is expected to be home to about 1mn residents and 500,000 jobs. (The National)