Lootah Real Estate Development, a high-end real estate developer, plans to hand over in May the villas being developed in the second phase of its Shamal Terraces project in Dubai.
Shamal Terraces Phase Two is a villa-based development and part of Shamal Community development located at Jumeirah Village Circle, which is master-developed by Nakheel. The Shamal Community project was launched in April last year.
With an overall project cost of Dh350 million ($95.2 million), Shamal Community spans over 147,000 sq ft. It consists of the Shamal Terraces, a cluster of four-bedroom villas with optional swimming pools; and the Shamal Residences, a mixture of high-end studio apartments and one-bedroom lofts. The Shamal villas have a built-up area of 4,481 to 6,362 sq ft.
Following its launch in April last year, the project was committed to be completed in 15 months – May 2014 to July 2015.
As a first step, the enabling tender and main construction package were issued in May last year.
The development features high-end villas, expansive terraces, contemporary architecture with landscaping.
Shamal Residences, a cluster of 1,024 residential units, is due to be completed next year. The project consists of affordable housing options.