Friday 26 December 2014
 
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CONSTRUCTION TO COST $680m

Nakheel plans new 1,000-villa gated community

Dubai, July 19, 2014

Nakheel is bringing a new, gated master planned community of 1,000 villas – including 100 high-end, serviced residences managed by a world-renowned hotel operator – to Dubai, as part of its leasing, hospitality and retail business expansion strategy.

Located in Dubai’s Nad Al Sheba district, 10 minutes’ drive from Burj Khalifa, the development comprises 900 three to five bedroom villas for lease and a separate resort-style complex of 100 high-end, serviced homes – all with private swimming pools – offering the ultimate in luxury, privacy and onsite facilities.

Nakheel has signed a contract for Dh27 million with Dubai-based Arif and Bintoak Consulting Architects and Engineers for design and engineering services for the project, which has an estimated construction value of Dh2.5 billion ($680 million).  

The construction tender will be released within three months, with a contract awarded by the end of 2014, the company said. The project is due for completion in 2016.  

Nakheel chairman Ali Rashid Lootah said: “Nakheel’s new residential and resort-style community at Nad Al Sheba will further enhance our growing leasing, hospitality and retail offerings, all of which are key to our long term business strategy. Our current residential leasing portfolio of almost 17,000 homes continues to be in huge demand, with almost 100 per cent occupancy across the entire range. We expect an equally-positive response to our new development announced today.”

Spanning 2.5 million sq ft, with extensive landscaping and communal park areas, the Nad Al Sheba community will contain a host of onsite facilities for all residents, including a club house and retail centre with shops, cafes, a community pool and sports courts.

Residents and guests at the separate, 100 serviced villa complex will have  exclusive access to an additional range of high-end facilities and services, an onsite health club with spa, wellness centre and lap pool, a restaurant, in-villa private dining and housekeeping and laundry services. Residents will also enjoy exclusive access to Nakheel’s beach facilities on Dubai’s Palm Jumeirah as well as daily transport services to the city’s malls and attractions.

Lootah added: “This exciting new development will appeal to a wide audience, including long term leasing clients and holidaymakers looking for an alternative to Dubai’s beach resorts and city hotels.  We look forward to the delivery of this new community as we continue to diversify our range of cash-generating assets in line with our future business strategy.” - TradeArabia News Service




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