Yesterday, Al Duaa Holdings and A&A Investment, both property development and real estate company, opened its residential project worth of 240 million dirhams The residences in Jumeirah Village. The project is a 10 floor building that covers 277,929 square feet of area.
It comprises 146 units including 23 studios, 95 one-bedroom apartments, 21 two-bedroom apartments and seven lofts.
It will have access to all the major hotspots in Dubai like the Dubai Marina, Dubai Internet City (DIC) and Dubai Sports City.The Residences will also be close to Dubai's three main transportation arteries: Shaikh Zayed Road, Al Khail Road and Emirates Road.
It will include facilities such as a gym, sauna and swimming pool with jacuzzi. All loft apartments on the top floors will have their own rooftop swimming pools."We took special care in the design phase to make sure that the unit layouts reflect unique features that provide a sense of individuality to them," said Noreen Khan, marketing director of Al Duaa Holdings.
"With its groundbreaking design, state-of-the-art amenities and large living space, The Residences enjoys its own level of privacy, daytime natural light and views of the city."According to recent reports, demand for residences in Dubai is set to increase by around 24,000 units by the end of this year and by a possible 45,000 units by 2015, in line with the booming population.
Al Duaa also has plans to launch Al Duaa World Islands on the World in September. The mixed-use development is valued at approximately Dh2 billion and will include a hotel, resort and high-end residential units, according to Noreen Khan.Al Duaa Holdings is a Dh4 billion UAE-based property development, advisory and real estate investment company.
Hesham Aziz, sales manager at A&A, said: "It will attract the highest end private tenants and will become the address of choice in Jumeirah Village."We expect 50 per cent of the project to be sold out in the pre-launch phase, while prices are expected to rise by 15 per cent post launch."
Financing is available for up to 85 per cent from Al Noor Islamic Bank, one of the largest Islamic banks in the world.
