30/01/2017 10:53 AST
Properties Investment, a joint venture between Dubai Investments and UAE-based Union Properties, said work on the third phase of its Green Community West Dubai Investments Park is progressing as per schedule, with 76 townhouses in Stage One to be handed over in the second quarter of 2017.
The Green Community West DIP - Phase III, covering an area of 1.48 million sq ft and a natural extension of the Green Community development, comprises a total of 210 townhouses, including 122 four-bedroom and 88 three-bedroom townhouses, 16 duplex apartments, retail units, recreational centres, swimming pools, squash court and landscaped areas.
Unveiling the details, Khalid Bin Kalban, the chairman of Properties Investment and managing director and CEO of Dubai Investments, said the Stage Two, which includes 96 townhouses, is likely to be handed over by October, while the Stage Three, comprising 38 townhouses, 16 apartments and retail units, is due for completion by year end.
The total built-up area of the project is 1.01 million sq ft and sellable area is 976,718 sq ft. Exciting payment plans spanning two years to eight years are also on offer directly from the developer, it stated.
Dewan Architects and Engineers have been signed up as lead consultants, while Shapoorji Pallonji Mideast are the main contractors of the Phase III project.
Covering 67 hectares of residential, leisure, retail, and commercial properties, the Green Community development prides itself on its modern surroundings and tranquil environment.
Kalban pointed out the fundamental drivers of UAE's real estate sectors are strong, with investor confidence and interest on the rise.
Concurrently, Dubai's growing reputation as the business and leisure hub, coupled with the anticipated demand for Expo 2020, are expected to catapult the emirate's real estate sector in the coming months.
"Amidst these trends, Properties Investment's Green Community project offers an unmatched investment opportunity," he stated.
Since its inception, Properties Investment has set new benchmarks in establishing pioneering residential concepts such as Green Community with unparalleled quality standards.
"We aim to continue its solid legacy through the Green Community West DIP - Phase III, with its townhouses and duplex apartments offering robust opportunities to both end-users and investors," said Kalban.
Green Community West DIP - Phase III will also include an expanded market section, with enhanced commercial and retail options to support the needs of the residents and visitors, he added.
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