Optimistic UAE developers continue to announce new luxury projects
JBR, Akoya Oxygen, Dubai Marina witness new launches
By 24/7 News
Published Monday, September 07, 2015
With just a day to go for Cityscape Global, UAE developers, confident of the UAE real estate market, are announcing new projects and releasing construction updates on their existing ones.
In the run-up to the three-day property event, starting September 8, a number of mega announcements have been made. Now the latest to join the “launch” bandwagon are Damac Properties, RAK Properties, Bloom Properties and Dubai Properties.
Damac Properties on Sunday launched the world’s first Bugatti-styled homes in Akoya Oxygen, a master development in Dubailand
Called ‘ETTORE 971’, the seven-bedroom villas are conceptualised by the designers of the car production company with prices starting from Dh36 million. The design includes an indoor vehicle display area.
The developer has also launched Viridis, four towers in Akoya Oxygen.
Two of the towers will comprise 370 hotel apartments, which will be managed by NAIA, its hospitality brand. The other two towers will include 356 residential units, overlooking the golf course.
Prices start from Dh440,000, with construction completion likely by mid-2019, according to the company.
Residence Collection at Al Habtoor City
Al Habtoor Group will unveil its luxury residential project, The Residence Collection at Al Habtoor City.
The City comprises three 5-star Starwood branded hotels (The St. Regis Dubai, W Dubai – Al Habtoor City, and Westin Dubai, Al Habtoor City), three luxury residential towers, and a permanent Las Vegas-style theatrical production by Dragone.
Dubai Properties (DP) announced launch of 1/JBR, a luxury tower located at the entrance of Jumeirah Beach Residence (JBR).
The tower, which will have two-to four-bedroom apartments and 5-bedroom penthouses, is set for completion in 2019.
Bloom Properties, a Bloom Holding subsidiary, said it has started construction of its Stella Maris tower in Dubai Marina.
NSCC International has been awarded the enabling works for the G+52 storey residential development. The tower will feature 313 luxury residences ranging from one- to three-bedrooms, as well as four-bedroom duplex apartments, townhouses and penthouses.
RAK Properties starts Flamingo phase 2
RAK Properties, Ras Al Khaimah’s biggest property developer listed on the Abu Dhabi Stock Exchange, has awarded construction for the second phase of its Flamingo Villas in Mina Al Arab waterfront development to Al Nuaimi Group.
Scheduled for completion within a year’s time, the phase 2 will comprise 68 units. The same contractor is building phase 1, which consists of 124 units. The delivery date is scheduled for last quarter 2015.