Oct 03 2018   | Source: Khaleej Times 

Day 1 of Cityscape Global sees subdued launches

The first day of Cityscape Global 2018 has not seen as many launches as in the earlier editions of the property exhibition. However, in a quarter that has been bereft of any high-profile launches, it looked like developers were biding their time to pace out announcements closer to Cityscape.

 

While Abu Dhabi developer Imkan's 'Sahel Al Emarat' project in Ghantoot was the biggest announced so far in terms of project value at a whopping Dh15 billion, Dubai developers have also followed suit with launches on a smaller scale. While most developers are launching new phases to existing projects, some have announced new ones as well.

 

The Meydan Group launched Marsa Meydan, a waterfront residential community in Jebel Ali. It will be styled along the lines of the Newport Beach in Orange County, Los Angeles.

 

Marsa Meydan will have waterfront villas with private pontoons and boat-mooring spots, as well as a climate-controlled marina. A network of canals will weave throughout the development. There will also be townhouses and apartments in the community. There will be four hotels in Marsa Meydan, a boulevard and a host of food and beverage outlets and retail shops will line the canals and boardwalk.

 

Saeed Humaid Al Tayer, chairman and CEO of Meydan City Corporation, said: "The lifestyle on offer here is unparalleled; it will appeal to a wide spectrum of the UAE population with a conscious price positioning."

 

Freehold in Jumeirah

Dubai Holding has added a major freehold luxury landmark in Dubai's prime Madinat Jumeirah district - Madinat Jumeirah Living. Located opposite the Burj al Arab, the new project will complement the hospitality and tourism projects in Jumeirah district, which include Marsa Al Arab in addition to Burj Al Arab, Al Qasr, Mina Al Salam, Dar Al Masyaf and Wild Wadi water park. 

 

Abdulla Ahmed Al Habbai, chairman at Dubai Holding, said: "Madinat Jumeirah Living is a natural extension to the entertainment, hospitality, retail, tourism and lifestyle proposition of the Madinat Jumeriah resort. Dubai Holding is now elevating the masterplan of the prime Jumeira district, taking it further to address the demand for luxury living."

 

Madinat Jumeirah Living will mirror the look and feel of Madinat Jumeirah Resort. The development will be directly connected to Souq Madinat Jumeirah via an air-conditioned pedestrian bridge. The project will break ground in 2019 and will be developed in phases. The first phase of the development is expected to be completed within 30 months following the ground-breaking. The 3.85 million sqft development comprises gated residential clusters.

 

JVC gets more towers

Bloom Properties has announced the release of two additional towers for sale within its existing Bloom Towers and Bloom Heights developments in Jumeirah Village Circle (JVC) in Dubai.

 

The developer revealed that the new building within Bloom Towers will comprise 255 residential units, whereas the new addition to Bloom Heights is to feature 298 residential units.

 

Bloom Properties also announced multiple payment plans and exclusive offers for property buyers at Cityscape Global 2018. Under the payment plan, customers buying properties within Bloom Towers and Bloom Heights during Cityscape Global can benefit from monthly mortgage payments starting from Dh1,600.

 

Sameh Muhtadi, CEO of Bloom Holding, said: "The release of two new buildings for sale within our JVC developments comes in response to the significant interest both projects generated among investors following their launch."

 

Deira gets a makeover

Ithra Dubai has announced the 'Deira Enrichment Project'. The project will see either side of Hyatt Regency in Deira being transformed over the next 15 years. Tenders totalling Dh3.5 billion have been awarded to date. The first phase will include the Deira Gold Souq Extension.

 

There will be 2,200 residential units in phase one of the Deira Enrichment Project, along with 840 retail outlets and hotels with 1,400 keys. There will also be a lot of green spaces.

 

Nakheel is already working on giving a facelift to Deira with its Deira Islands project, which will include the city's largest mall.

 

- deepthi@khaleejtimes.com

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Day 1 of Cityscape Global sees subdued launches

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