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Shamal Residences .... boasts 204 studio and 55 loft apartments.

Lootah readies new payment plans for Dubai project

DUBAI, March 29, 2015

Lootah Real Estate Development, a Dubai-based high-end developer, has announced competitive payment plans for both UAE nationals and expatriates for its Shamal Terraces and Residences project.

Ideally located in Jumeirah Village South in Dubai’s new growth corridor, Shamal Terraces is surrounded by some of the emirate’s most prestigious real estate projects, said a statement from Lootah.

The first phase of the Shamal Terraces included 30 villas, while the Shamal Residences project includes 204 studio and 55 loft apartments.

The Shamal villas have a total built-up area of 4,481 to 6,362 sq ft, whilst Shamal Residences studios range between 516 and 835 sq ft. The overall built-up area of the Shamal Community development totals more than 147,000 sq ft.

Lootah on Sunday announced the sales launch of the second phase of the Shamal Terraces and Shamal Residences, located at Jumeirah Village Circle.

To facilitate buyers, Lootah has introduced a new mortgage facility of up to 80 per cent financing for both the Emiratis and expatriates, the statement added.

"Following the high investor response to a Dh350-million ($95 million) Shamal Community, the sale of the first phase of the development is coming to an end. Only a few ready-to-move villas are available for buyers on a first-come-first-serve basis," remarked the executive director Saleh Abdullah Lootah.

The project's success was mainly due to the company's viable sales strategy, ideal location close to the centre of Dubai’s business districts, and the longstanding reputation of Lootah Real Estate, he noted.

On the project schedule, Lootah said the Shamal Residences apartments is scheduled for completion in 2016. "All lofts have already been sold out and only a few studios remain available," he noted.

Each apartment at Shamal Residences features high ceilings, large glass sliding doors, spacious living areas, expansive terraces, attached bathrooms, modern kitchen, swimming pool, a fully-equipped gymnasium, a sauna, car garage, round-the-clock maintenance and security.

“An estimated 40 per cent bookings of Shamal apartments, villas and lofts soon after the launch is a testament to our quality lifestyle offerings in our brand new neighbourhood community,” he added.-TradeArabia News Service




Tags: Lootah | payment | Dubai project |

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