DWC Residential City second phase sales to start
Dubai, March 22, 2008
The sale of Phase 2 of the 715 hectares DWC Residential City at Dubai World Central (DWC) is set to begin soon.
It will take place at Hotel Grand Hyatt, Dubai on March 25 and 26, the company said in a statement.
Following sales registration at International Property Show (IPS) last month for the 284 plots, which range from 2000 to 12,000 square metres, the second phase is expected to be sold out generating at least Dhs 6 billion, it added.
“The unique Dubai World Central proposition of staying close to your workplace in affordable housing has found high interest among potential investors,” said Dubai World Central chief executive officer for real estate Khalid bin Harib.
“Land registrations in the past few months have exceeded expectations with major regional property developers having expressed interest in providing premium, affordable housing for residents looking to get prime real-estate in new Dubai.”
Phase 1 sales last year was completed in less than 24 hours highlighting huge developer demand at DWC Residential City.
Phase 2 covers a total of 140 hectares, the largest among all five phases at DWC Residential City, which will eventually be home to 53,000 people across 18,000 units.
“The city will have a variety of one to four bedroom apartments in various size buildings, ranging from five to 10 stories, catering to diverse groups of people,” said bin Harib.
“Proximity to Jebel Ali’s waterfront developments, inland tourist attractions, upcoming industrial and investment parks and the free zones, in addition to the 20-minute drive to DWC-Al Maktoum International Airport are attractions to future residents of this city.”
DWC promises a harmonious lifestyle in a desirable living environment with ample open public spaces, public facilities and health care centres.
DWC Residential City will also be served by its own light rail which is linked into the Dubai Metro, providing easier transportation within the city and outwards to the existing Dubai city centre, 40 kilometres away.
Land grading work for phase 2 is complete enabling contractor access to all plots towards the end of this year.
Phase 2 will also have 19 plots for mixed use development while nine plots are reserved for commercial and public amenities like schools, malls, hotels, health centres, mosques, fuel stations and parks, the company said. – TradeArabia News Service