Real Estate

Hydra Village Zone 8  ... now complete.

Hydra Village Zone 8 ... now complete.

News in brief

July 2018

Hydra to start delivery of Abu Dhabi villas

UAE-based Hydra Properties was expected to start the handover of properties at Hydra Village Zone 8 located in the Shahama area of Abu Dhabi to the new residents at the end of last month.

The over one-million-sq-ft Zone 8 development consists of 582 two-bedroom villas and low-rise residential buildings and various amenities including swimming pools, landscaped areas, an outdoor gym, and children’s play areas. Zone 8 is part of the overall Hydra Village development on the outskirts of Abu Dhabi conveniently located on the way to Dubai, offering value-for-money property with a comfortable community living.

Mohamad Al Habech, the chief commercial officer at Hydra Properties, says: “Reaching the handover point is always a significant and very rewarding milestone as we know the owners of these properties are keen to get hold of their keys.”

“The demand for properties in Zone 8 has been extremely high all the way through construction, just as it has been in the other zones. There has been an obvious trend of people looking further outside the city to get more for their money and Hydra Village delivers that and more,” notes Al Habech.

“Another reason for its popularity is the number of people who have to commute between Abu Dhabi and Dubai on a regular basis or couples who have jobs in different cities. Again, Hydra offers them a convenient option while providing a comfortable living for them and their family,” he adds.

Hydra Properties has also been making headway on its premium waterfront location on Reem Island. When fully complete, the Hydra Avenue development, will boast six towers, between 24 and 29 storeys, interconnected by a mixed-use podium that spans across five floors, for the residents living in the 1,812 apartments and 39 townhouses.

 

Binghatti Crystals on track

UAE-based Binghatti Developers has announced that the work is progressing at a steady pace on its prime residential project, Binghatti Crystals, located in Dubai Silicon Oasis, with the structure completed and finishing, façade, and installation works in progress.

The 12-storey Binghatti Crystals will offer a total of 219 units, including 159 studios, eight one- and 48 two-bedroom apartments, in addition to four-bedroom duplexes. The building will also feature a swimming pool, a gymnasium, in addition to parking facilities.

With the finishing, façade, and installation works currently in progress and structure work ready, the project is on track for its scheduled completion. Binghatti Crystals is centred within walking distance of both the cutting-edge Silicon Park Development, the Dubai Silicon Oasis Authority’s flagship mixed-use community development, and the upcoming Silicon Oasis Mall development.

The Silicon Mall development will feature a LuLu Hypermarket, as well as a cinema, and numerous dining and shopping destinations, it states.

CEO Muhammad BinGhatti says: “Our focus on the affordable segment of the market is reflective of the reality that affordable properties provide better investment returns than luxury properties which are often held as trophy properties.”

“Binghatti Developers has demonstrated its commitment to delivery times across its delivered projects. The company is seeking to redefine the norms of the real estate industry by delivering reasonably priced high-quality projects in a timely manner,” states BinGhatti, who is also the head of architecture at the company.

 

Savills takes over Cluttons Middle East

International real estate advisor Savills says it has completed the acquisition of Cluttons Middle East, a leading real estate consultancy business in the Gulf region.

Cluttons Middle East employs 190 staff in seven locations throughout the region, providing agency, management and consultancy advice in both the commercial and residential sectors.

The deal, which was completed in May, will see Savills take full ownership of Cluttons Middle East, a brand which has been established in the region for more than 40 years. The business will be re-branded Savills this year.

Cluttons Middle East’s team will transfer to Savills global platform with immediate effect, says the company. The full retention of Cluttons Middle East leadership team and employees will ensure clients not only continue to benefit from the same regional expertise but also benefit from Savills global platform, it adds.

The acquisition sees Savills establish its first wholly-owned business in the Middle East having previously been represented by associates in the region over many years.  While the formal associations will come to an end, Savills expects to continue cooperating with its former partners in the future.

This new Savills business in the Middle East provides a vital bridge between Savills expanding European business and its established Asian operation, further strengthening Savills global coverage, says an official.

 

MAG LD to launch two new projects in Jumeirah

MAG Lifestyle Development (MAG LD), the development arm of MAG Group, has announced plans to launch two new 20-storey residential projects in Jumeirah Village Circle – MAG 612 and MAG 614 – at an investment of Dh300 million ($82 million). 

MAG 614 comprises 223 units including 80 studio units, 101 one- and 42 two-bedroom apartments, in addition to 261 parking spaces, says the developer.

The 280,012-sq-ft project also features a swimming pool and health club, and will be brought to life in partnership with Engineer Adnan Saffarini Office, one of the UAE’s leading architectural and engineering consultancy companies.

MAG 612 will feature 144 units with 100 one- and 44 two-bedroom apartments, in addition to 182 parking spaces. Al Gurg Consultants will be responsible for delivering real added value through its comprehensive property solutions. Both these developments will represent a significant addition to MAG LD’s existing portfolio and will see the company entering this strategic area of Dubai for the first time.

 

Danube launches 1,064-unit Lawnz at International City

Danube’s Jewelz in Dubailand ... 85 per cent sold out.

Danube’s Jewelz in Dubailand ... 85 per cent sold out.

DANUBE Properties, a UAE-based property developer, has launched its 11th project – the Dh550-million ($150 million) Lawnz – comprising 1,064 residential units at the International City in Dubai, UAE.

The project will take Danube Properties’ portfolio to 4,744 units with a development value exceeding Dh3.7 billion, spread across 11 projects.

 Construction of the project is expected to start in 2018 with completion in 2020. Lawnz is Danube Properties’ first project at the International City and its first gated complex.

 “This is our biggest project so far that will add 1,064 units,” Rizwan Sajan, founder chairman of Danube Group, says. “This is our second project launch this year and comes after three months of the launch of the Dh300-million Jewelz that adds 463 units offering more than 15 per cent return on investment, which has been a runaway success in terms of sale.

Jewelz, located in the freehold and mixed-use community of Arjan in Dubailand, has received an overwhelming  response with 85 per cent of the project sold out within two months of its launch says the developer.

The Lawnz offers 1,064 residential units, ranging from studio, one- and two-bedroom apartments.

The project is conveniently located at the International City Phase One. The super-lavish amenities include a massive 3.8-acre promenade, a fully equipped health club, swimming pool, steam and sauna room, multi-purpose hall, jogging track, barbecue deck, badminton court, multi-purpose court and a high tech surveillance system for the protection and security of the residents. The property also comes with a 42-m-wide entrance and outdoor cinema.

 Among the residential units, 50 per cent of the units are studio apartments while 40 per cent are one-bedroom apartments and 10 per cent are two-bedroom apartments.

Danube has delivered 831 properties so far  and expects to deliver a further 870 units later this year.

 

Ellington starts Jumeirah Village Circle homes delivery

Somerset Mews homes by Ellington ... handover has begun.

Somerset Mews homes by Ellington ... handover has begun.

Ellington, a Dubai-based design-led boutique developer with a growing portfolio of bespoke, aesthetic and quality homes, says it has begun the handover of Somerset Mews homes ahead of schedule.

Somerset Mews is located at the increasingly popular Jumeirah Village Circle (JVC) and is set amid new and existing Ellington projects such as Belgravia and Eaton Place.

Featuring 17 four-bedroom townhouses, Somerset Mews is described as being ideal for small families and professionals. In true Ellington style, the Somerset Mews townhouses are aesthetically designed, and feature ample private balconies and bask in natural sunlight, the developer says.

Elie Naaman, the executive director of sales and marketing, Ellington, says: “We have had a busy yet fruitful 2018 with the level of awareness increasing quickly across the market as Ellington’s unique offering continues to impress and excite both buyers and investors.”

“Somerset Mews, in addition to the latest projects we have announced, is another example of where we are providing an exceptional opportunity for anyone looking to own a stake in a design-focused property that oozes quality and provides outstanding lifestyle, city living,” he adds.

The project is located in close proximity to a host of parks in the wider JVC community, and an upcoming mall, several eateries, pharmacies, groceries and supermarkets.




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