Dubai’s property market is showing further signs of recovery with a series of new projects and developments being announced.

Dubai real estate firm Deyaar is to launch two new projects this year and start sales on another major development, according to local reports. One of the new projects is estimated to a AED 500m residential development in the emirate’s Business Bay district.

Deyaar, the second largest property firm on the Dubai Financial Market, will also launch sales of its Central Park residential project in Dubai International Finance Centre after the summer. The development is a joint venture with Dubai Properties Group and will contain more than 420 apartments.

Emaar, the emirate’s biggest listed developer, has launched several major new projects already in 2013. The company is also one the master developers behind Mohammed Bin Rashid City, a huge mixed use project that will contain the world’s largest shopping mall and more than 100 hotels.

Emaar Properties will form a joint venture with conglomerate Dubai Holding to build a 6.5 million square metre urban district to be called Dubai Creek Harbour which will include a business district, shopping, sports and entertainment facilities.