Tuesday, July 25, 2017

Amlak to hand over Dubai villa project in Q4

Amlak Finance, a leading specialised real estate financier in the Middle East region, has announced the completion of the first phase of its new residential development project in Mirdiff area of Dubai, UAE.

The Dh135 million ($37 million) development includes eighteen land plots spread over a 136,224 sq ft area. Each plot consists of three high-end townhouse villas which have four- to five-bedrooms, private gardens and parking facilities.

The project is centrally located in Mirdiff, and provides residents with easy access to retail hubs, including City Centre Mirdiff and Mirdiff 35, as well as Meshrif Park.

This marks the first time that Amlak has developed a fully-owned property. The project consists of 54 villas and is scheduled for completion by the fourth quarter, said a statement from Amlak.

The handover of the developments will be completed in three phases. In the first phase, the units will be handed over by August. As part of Phase One of the project, a mock-villa has been completed and is available for viewing by potential tenants.
The Phase Two will see the units handover by the end of September, and Phase Three by the end of November, stated the Emirati company.

Commenting on the launch, Arif Alharmi, the managing director and CEO of Amlak Finance, said: "We are pleased to announce the completion of Amlak’s new residential real estate development in Mirdiff. This project has been fully managed and developed by Amlak and we believe it is well-suited for the market."

"It will further enhance the value of our real estate investment and fulfill our commitments to our financiers and shareholders. This project is truly a testament to the ongoing success of Amlak’s business and further cements our leadership position in the market," noted Alharmi.

"We look forward to positively contributing to the future growth of the real estate sector," he added.-TradeArabia News Service

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