Monday, May 15, 2017

Jumeirah Golf Estates launches new 120-home tower

Dubai-based Jumeirah Golf Estates, a leading residential golf community, has launched an additional tower in its Alandalus development with 120 affordable luxury Mediterranean-inspired apartments.

The launch builds on the success and high demand already seen for Jumeirah Golf Estates’ Alandalus development. In February, townhouses in Phase One and Two sold out in the space of just three hours. The apartment tower, which is the third to launch, is expected to be handed over in Q3 2019, as the first two have already sold out and are on track for their 2018 handover, a company statement said.

Alandalus has been designed to reflect a growing demand for outdoor living with Andalucian-inspired architecture and contemporary features. The community offers a holistic lifestyle experience, boasting retail space, plans for a hotel development, and Jumeirah Golf Estates’ second clubhouse.

One-, two-, three- and four-bedroom apartments in Alandalus Tower C, which offer large indoor and outdoor living spaces, will be launched for sale on May 17 for UAE nationals and loyal customers at the Jumeirah Golf Estates sales centre.

A sales event also for UAE nationals will take place in Abu Dhabi on May 18 at Etihad Towers in partnership with Abu Dhabi Islamic Bank. Public sales will then commence on May 20 at the Jumeirah Golf Estates sales centre.

Prices start from Dh685,000 ($186,500) for one-bedroom apartments, and customers can avail a two per cent  waiver on Dubai Land Department (DLD) fees on property purchases made between May 17-20 – an offer that will remain available to UAE nationals afterwards.

Yousuf Kazim, CEO of Jumeirah Golf Estates, said: “The response to Alandalus has been extremely positive, reflecting a gap in the market that Jumeirah Golf Estates is catering to – homes that are affordable and do not compromise on quality and luxury. As one of Dubai’s leading real estate developers, this shows that we are keeping pace with the emirate’s rapidly evolving and diversifying real estate landscape,  and contributing to its growth and investment in the lead-up to EXPO 2020.

“We are delighted to bring another 120 homes to the Alandalus market. The community sets a benchmark in affordable luxury with its unique architecture, exceptional quality, and modern features and we are confident that these apartments will be equally well-received.”

According to the Dubai Land Department, the value of real estate transactions in the first quarter of 2017 rose by 45 per cent compared to the first quarter of last year – an indication that Dubai’s real estate market is preparing for a new phase of growth.

Jumeirah Golf Estates is a key contributor to this expansion, and a focus on the mid-market real estate segment reflects the company’s ability to deliver the right product at the right price point. To this end, Alandalus offers an attractive proposition for both investors and end-users, with the apartments offering eight to 10 per cent rental yields and 20 to 30 per cent capital appreciation, according to the statement.

Alandalus’ Tower C is the latest addition to the world-class mixed-use community, which encompasses 715 apartments, 95 townhouses, a hotel, and community retail centre. – TradeArabia News Service

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