The finishing touches are being put to a key homes development in one of Dubai’s biggest mixed-use real estate schemes.
Dubai Properties is close to an exact handover date for homes in the AED 735 million ($200 million) Al Waha Villas project, Dubailand, after the scheme experienced delays.
Officials said completed units in the real estate project will change hands in the second quarter of this year.
The project is a freehold Mediterranean-style homes scheme involving 260 luxury villas and townhouses in an exclusive enclave.
The project was originally due to finish at the end of 2008, but official said details on some of the homes had taken longer than expected.
A Dubai Properties spokesman said: “We are highly conscious of the buyers’ keenness to move into their new homes, set to offer a unique experience in community living with exquisite features and ambience.”
The company added it is offering units for lease at the ’558 Community Development’, also in Dubailand, and featuring 414 villas and 144 apartments.
Dubailand as a whole is run by Tatweer, and involves a number of individual real estate and leisure projects including luxury homes and theme parks.
Dubai Properties is behind a number of other real estate plans in the UAE, including the Business Bay development, Culture Village and The Villa project.
Investors who have bought homes in the UAE got a further boost this week when Abdullah Al Shakra of Al Hanoo Group Saudi Arabia said the local market had entered a more stable phase, according to Emirates Business.
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Dubai real estate market has started recovering.Good luck !