Dubai Properties begins work on US$ 190.5 mn waterfront project set for delivery in 2017

Posted on 15th April 2015

Dubai Properties, a leading real estate developer, has started work on its Dh 700-million (US$ 190.5 million) Dubai Wharf project, a multi-storey mixed-use development located in Culture Village development in Dubai, UAE.

DubaiWharf

A contemporary Arabesque town on the waterfront, Dubai Wharf comprises four buildings sharing a single podium. It boasts a total of 509 one-, two- and three-bedrooms apartments.

The first building with 124 units has already been released for sale, said a statement from Dubai Properties.

The contractor ECC has started construction work and the project is expected to be handed over by mid-2017, it added.

Dubai Properties witnessed strong demand for its upscale Dubai development Mudon at the recent International Property Show in Dubai where all its four-bedroom townhouses got sold.

The gated Mudon community is surrounded by landscaped neighbourhood parks with easy access to various modern amenities. Since its launch last year, Mudon has become one of Dubai Properties’ most sought after projects and Dubai’s most popular residential communities.

Launched during the second half of 2014, the 120 units ranging from 3,786 to 3,800 square feet, form part of Phase Two of the Mudon development at Dubailand.

“The response to the project is overwhelming and is a testament to our commitment to provide solutions that cater to the needs of end-users and investors who are looking for value-for-money properties in the emirate,” remarked Abdulla Abushabieb, executive director sales and customer care at Dubai Properties.

The first phase of the project comprising 398 units was completed last year and 200 units have already been handed over to investors, said Dubai Properties.

Shortly the remaining units will also be handed over, it added.

The company is aiming to hand over Phase Two to investors by the end of the year. “We hope to start handling over the townhouses by the end of this year till 2016,” said Abushabieb.

Another of Dubai Properties' project, Manazel Al Khor, is attracting solid response from investors. The mixed-use development aims to address the growing demand for apartment spaces at prime locations within the city.

"Manazil Al Khor is located in Culture village on the main canal of Dubai. Last year we released three- and four-bedroom units and this year we are going to release one- and two-bedroom units," remarked Abushabieb.

Construction work has already started and has reached 25 per cent completion. "The handover is scheduled for the third quarter of 2016," he added.

In Dubailand, the developer is also working on the expansion of its Remraam project.

“Undergoing an 18 building expansion, Remraam is a prime investment for locals and expats who are looking for convenient and affordable housing in Dubai,” said Abushabieb.

The project comprises 56 buildings with 3,170 studio, one-, two and three-bedroom ready-to-move-in apartments.

"Dubai Properties’ competitive edge is its unique residential and mixed-use developments in Dubai. Its portfolio of modern properties also includes the Jumeirah Beach Residence, The Villa, Layan in Dubailand, as well as The Executives Towers, Vision Tower and Bay Square in Business Bay," he added.

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