Dubai: 90 per cent of Residential District in International City project sold out
Nakheel, the property development company responsible for Dubai’s most stunning projects, has announced that the Residential District in its latest project, International City, is 90 per cent sold out, following a surge of interest from international investors.
The 300-hectare Residential District is part of Nakheel’s prestigious International City project, the first in the Middle East to offer internationally-themed residential buildings within a business, retail and tourism complex. The residences will comprise mainly of 44.5 square metre studio apartments and 66.5 square metre one bedroom apartments featuring the unique architectural styles of Italy, Spain, Morocco, Persia, Greece, China, England, Russia, and France. The residential areas will be divided into large and medium sized neighbourhoods.
Sultan Ahmed bin Sulayem, Executive Chairman, Nakheel, said: “We are delighted to have sold most of the residential area already after launching in late 2003. The district has been carefully devised to ensure that residents will only have a four minute walk from any of the housing clusters to the outskirts of the City. Residents will benefit from an abundance of amenities on their doorstep, including retail outlets, restaurants and leisure and entertainment facilities. We will also be developing an infrastructure that includes every amenity essential to a community, including schools, post offices and hospitals. All in all we created a self contained community at affordable prices, with all the necessities and leisure of everyday living.”
“The majority of the residences will be studios and one bedroom apartments, but developers will have the flexibility to convert the apartments into two bedroom flats, if desired. The homes located around the Lake District area of International City will feature two and three bedroom duplex apartments however, overlooking the Summer Palace Lake District,” added Sultan Ahmed bin Sulayem.
The 800-hectare development is divided into six main areas, incorporating residential, commercial and retail buildings. It is developed as a world-class hub for international investors, traders and retailers in the Al Warsan area, just 12km from Dubai International Airport.
The six main areas of International City are: the Central District, the centre of International City’s commercial activity; Dubai Gates, the gateway to International City that forms the border on three sides of the development; the Residential District, incorporating different architectural styles from around the globe; the Lake District, a quiet lake and public park area; Forbidden City, a 240,000 square metre replica of the Forbidden City in China and Chinamex Mart, a stunning dragon-shaped shopping mall with a 1.4km long spine. (menareport.com)
© 2004 Mena Report (www.menareport.com)
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