This section reports on Al Furjan G+1 plots (residential land) which is part of the Al Furjan master-community. For Al Furjan the master-community (of which this project is also a part of), please see Al Furjan Master Community by typing your selection in the Project Search box.
- This project was announced in November 2013, just a few days before the Expo 2020 bid was successfully won by Dubai.
- Approximately 200 - 300 residential plots were sold over a two day period directly from Nakheel. Original prices ranged from AED 200 - 260 per sq. ft. At the time these were sold, similiar G+1 plots in Jumeirah Village Circle were trading at the AED 250 - 260 per sq. ft. mark. Most observers felt these were exceptionally well priced considering that Al Furjan probably has a better location (being right off Sheikh Zayed Road). Hence, these units were considered to be a good buy.
- The units were sold over a 12 month payment-plan. All units are currently100% paid.
- Nakheel had commited to developing the raw land and handing over plots to investors to commence construction by 2015. However, this has since been delayed. Infrastructure work is underway but delivery of plots is expected in late by Q2 or Q3 of 2017.
- No construction timelines on contract. FAR of 75%. Plot sizes typically range from 5,400 - 6,000 sq. ft., but there are plots that have sizes of 7,000 sq. ft. and above
- The project was sold out in two days. There are secondary market transactions that take place for this community.
Note: It is not easy to deliver pricing for this community, though we do attempt to track average transaction prices by monitoring the sorts of premiums owners are able to achieve. Original prices of the plots ranged from as low as AED 200 to as high as AED 260 psf at a later launch. There are different payment plans that units were sold at and not enough public information exists on the plotting and different phases of this project. The developer also sold townhouse plots that allowed for one plot to be demarcated into parcels of 2 or 3 units. Every quarter we interview estate agents who operate in the area to determine the type of transaction levels being achieved.