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Al Fara's handover of $61m project lauded

Dubai, October 26, 2009

The Dubai Land Department (DLD) has lauded Al Fara’a Properties for the timely completion and handover of its Dh225 million ($61 million) ‘Le Grand Chateau’ (LGC) project in Jumeirah Village.

In addition, Nakheel Properties, the master developer of Jumeirah Village, also commended Al Fara’a for being the first to deliver in its high profile community development and for completing the project six months before its scheduled 2010 deadline.

Ideally located at the heart of Jumeirah Village, ‘Le Grand Chateau’ draws inspiration from the architecture of the 16th century Chateaux of the Loire Valley in France.

The development comprises 15 luxurious four-bedroom G+2 townhouses, a residential block with a total of 185 apartments, and a range of amenities including a gymnasium with aerobic facilities as well as entertainment and lifestyle areas, which will ensure that all residents, including some 50 families who have moved in and the others that will follow them, enjoy a sense of community in an ideal setting.

Over and above its impressive design, all aspects of the project - from furniture to lighting - have been carefully selected and blended to ensure a consistent themed ambience throughout the development, according to a statement.

“We have built ‘Le Grand Chateau’ with a lot of attention to detail and based on the rich learning and study of lifestyles that we have established in the last three decades,” said Natasha Gangaramani, director, Al Fara’a Properties.

“The DLD continues to provide support for developers like Al Fara’a, who despite the impaired market conditions still managed to honour their commitment to on-time delivery of projects,” added Sultan Butti Bin Mirjin, director general, DLD.

The Al Fara’a Group has provided LGC investors access to flexible financing options for the project through Abu Dhabi Commercial Bank (ADCB).

“As the master developer of Jumeirah Village, it brings us great pride that our community project is the home of this exceptional new development, for which we have established a synergy that Nakheel and Al Fara’a Properties share,” said Chris O’Donnel, chief executive officer, Nakheel.

Al Fara’a Properties has two other luxury residential projects within Jumeirah Village - the ‘The Manhattan’, and the ‘Mulberry Mansions'.

Inspired by the urban residences of 1930’s New York, ‘The Manhattan’ will offer 355 units, which comprise a selection of studio, one-, two-, and three-bedrooms apartments; while ‘Mulberry Mansions' will provide 12 Victorian-styled two-storey townhouses, incorporating four bedrooms, a private two-car garage, a terrace, a balcony, maid’s room with separate access, and a small private garden.-TradeArabia News Service




Tags: nakheel | Dubai | real estate | Al Fara’a | Le Grand Chateau |

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