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•Keys of first villa have been handed over to the owner
•Lootah Real Estate will start whole of Shamal Terraces Phase 2 from May this year
•The enabling tender and main construction package were issued in May last year
•Shamal Terraces phase 2 was committed to be completed in 15 months - May 2014 to July 2015
•On-time completion and delivery has strengthened the trust of investors
•The Shamal villas are having a total built up area of 4,481 to 6,362 square feet.
Dubai - Following the launch of Shamal Community at Jumeirah Village Circle in April last year, Lootah Real Estate Development, a Dubai based high-end real estate developer, today announced the plan of handing over Shamal Terraces phase 2 to investors starting from May this year.
On-time completion and delivery has strengthened the trust of investors. Lootah Real Estate Development has fulfilled its commitment and has exceeded the expectations of corporate and individual buyers. The enabling tender and main construction package were issued in May last year. Following the launch in April 2014, the Shamal Terraces phase 2 was committed to be completed in 15 months - May 2014 to July 2015. It is a villa based development and is part of Shamal Community located at Jumeirah Village Circle, which is master-developed by Nakheel.
With an overall project cost of AED 350 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 are having a total built up area of 4,481 to 6,362 square feet.
Saleh Abdullah Lootah, Executive Director of Lootah Real Estate Development, commented:
"At Lootah Real Estate Development, customers come first to propel their future growth plan. This is testament of our commitment and passion that keeps us fulfilling our promise with our customers. We are delighted about on-time completion and handover of our ready-to-move villas to our valued customers."
"With the start of new year, LRED team is consolidating its strengths on customer-focused approach. That also helps keep us on track with our ongoing and future projects. Our upcoming project is Shamal Residences to be completed in 2016. We are witnessing a growing demand for the quality lifestyle in Shamal Community.", he added.
Being at the centre of Dubai and between two major highways - Sheikh Mohammed Bin Zayed and Al Khail roads, Shamal Community residents have ease of moving around the city and other emirates of UAE. For business community and working classes, the location gives ease of moving around Dubai, going to offices and meetings without the hassle of traffic at peak hours.
Shamal Terraces Distinctive Features
High-end villas, expansive terraces allowing independence and openness to the whole family, contemporary architecture with distinctive landscaping and availability of all amenities that enrich life.
Each unit is featured with high ceilings, large glass sliding doors, spacious living areas, broad terraces, attached bathrooms, modern kitchen, swimming pool, a sauna, car garage, round the clock maintenance and security for the whole Shamal Community.
The upcoming development is Shamal Residences, a cluster of 1024 residential units, is a calmer, quieter and safer living environment with the fourth floor having duplex type lofts with two levels, lower floor is for living/dining and kitchen and the upper floor is for the bedroom.
Shamal Residences consists of affordable housing options equipped with innovative facilities for lifestyle housing, common pool areas separately build for men and women, fitness facilities, larger windows and balconies emphasizing the surrounding views. In addition, post sales property management, facilities management and leasing facilities are available, among others
An investment into a strategic location of Shamal Community has a potential of high return in future as prices are competitive than the prices in nearby community developments. Shamal Community is situated within the close proximity of Al Maktoum International airport, Expo 2020 site, shopping malls and near Dubai's commercial districts of Dubai Media City, Dubai Internet City, Jebel Ali Free Zone.
Following an enormous response from investors and individual buyers, Lootah Real Estate Development is planning to develop more neighbourhood communities in future.
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About Lootah Real Estate Development (LRED)
Since the inception of a well respected and an established Lootah Group five decades ago, Lootah Real Estate Development has acted as the pioneering real estate development arm of the Group. Through a culture of excellence and an unswerving commitment to provide the very highest standards of housing, Lootah Group's 6,000+ employees have not only achieved, but exceeded, the most ambitious goals. Over 1,000 units have been delivered to highly satisfied occupants in Ewan Residences, another property located in the Dubai Investment Park, with many more developments are planned for the future.
The Ewan Residences in Dubai Investment Park (DIP), developed by the Lootah Real Estate Development, was a huge success; Ewan Residences comprises 79 buildings with up to 12 apartments in each block. The apartment blocks have been designed in a unique manner to make them affordable to small, medium and large occupants companies and residence in Dubai. Ewan Residences is a secure, gated community with beautifully landscaped gardens, a state-of-the-art recreation centre, swimming pools, jogging tracks, and community facilities that include play areas for children throughout the complex.
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© Press Release 2015
