Two major contracts have been awarded for Dubai’s Green Lakes project, the first freehold real estate development from Sheikh Ahmed bin Saeed Al Maktoum.
The main contract for construction has been awarded to Al Basti & Muktha with the MEP works’ contract going to Bilt Middle East.
Sheikh Ahmed said: “The development of Dubai’s real estate sector is part of the government’s drive to encourage inward investment. As such, construction projects across the city will help provide sustainable interest from individuals and companies alike, whether they have bought property as a home or an investment.”
The 720-apartment project, to be marketed by Asam Investments & Real Estate, will be constructed by ARCH group of architects and is part of Nakheel’s Jumeirah Lake Towers development. The project is scheduled for completion date in April 2007.
While this is the first residential project for Sheikh Ahmed in Dubai, his companies have leased more than 400 residential units in Dubai, with more than 600 units currently being developed for leasing in the city.
Meanwhile, recent market predictions suggest that Dubai’s property sector has already attracted more than Dhs100 billion in investment to date, with healthy growth to come for the next 10 years.
Sheikh Ahmed added: “Buying property in Dubai is one of the current hot topics around the world, whether as an investment, part of a portfolio, or as a home for years to come.
“Dubai’s secure, prosperous environment of the city equates to a lifestyle that most dream of – and many can now afford.”
Green Lakes will offer one, two and three-bedroom upscale freehold apartments for sale at the heart of the Jumeirah Lake Towers, facing the championship Emirates Golf Course and opposite Dubai Marina.
Views will be at a premium from each of the three towers, looking towards the marina and the Arabian Gulf on one side, as well as the tees of the golf course and the Jumeirah Lakes to the other.
The stunning modern buildings will be set in landscaped gardens, each with a sweeping lobby and a selection of boutiques and restaurants set in a covered walkway.
The design for the towers and the public areas has been kept elegant, yet contemporary, with modern security systems and high-speed internet throughout.
All apartments come with individual parking facilities, and are complete with fitted kitchens and bathrooms. The development will have a five-star standard health club and spa, as well as rooftop and children’s pools.
