Mar 01 2017
Al Furjan Residential Land
Al Furjan Residential Plots are located behind The Gardens and just a few minutes off from Sheikh Zayed Road. In 2013, Nakheel launched about 200 G+1 residential plots at prices ranging from AED 220 - 260 per sq. ft.
The infrastructure development of the community is nearly completed; and construction can begin on the plots by Q2 or Q3 of 2017. All plots are 100% paid and can be purchased from the secondary market.
There's a few excellent buying opportunities at the moment; currently there are plots available with prices ranging from AED 195 - 220 per sq. ft.
Just to highlight one particualar option: there's an excellent plot available with a (rare) large size of 7,853 sq. ft., which means a villa with a built up area of 5,889 sq. ft. can be constructed on it.
This plot was purchased for AED 230 per sq. ft. and is being sold below cost at AED 215 per sq. ft.
Back of the envelope feasibility: Plot price works out to be AED 1,688,395.00 + 6% closing costs = AED 1,789,698
Constructon costs / approval costs to build a high-end 5 or 6 bedroom villa is about AED 250 - 300 per sq. ft. (AED 1,472,250 - 1,750,000)
Total cost to build a high-end customized villa = AED 3,300,000 - 3,600,000; which means that for both an investor or end-user, the financial feasibility is phenomenally attractive. We have several plots available for sale in the Al Furjan area; an area which is primed for growth due to the maturity of surrounding areas; plenty of ameneities, infrastructure developments and proximity to Sheikh Zayed Road.
For clients intersted in learning more please contact Gibran Y. Bham +971.56.408.7616 or Kashif Ali at +971.50.708.6765