More luxury residential properties coming to Dubai in a $272M project

Published July 21st, 2015 - 01:58 GMT

Mohammed Bin Rashid al-Maktoum City, a community destination and prime residential location in Dubai, is set to witness the development of a Dh1 billion ($272.2 million) luxury residential project titled "Jade at the Fields."

The project, to be developed in the District 11 of Mohammed Bin Rashid al-Maktoum City, is being sold and marketed by SPF Realty, a leading real estate broker in the UAE’s freehold property sector, said a statement.

"Jade at the Fields" will be a gated residential community consisting of 360 premium townhouses of contemporary style.

G&Co has appointed SPF Realty for Jade at the Fields project as a continuation of their successful association after receiving overwhelming response for their previous two projects — Dh1.5 billion ($410 million) Millennium Estates, and Dh2.7 billion ($740 million) Grand Views at Millennium Estates, both of which were exclusively marketed and sold by SPF Realty.

Kalpesh Sampat, director of SPF Realty, said: “Welcome to the new name in Dubai’s luxury community living. Jade at the Fields is set to be the first choice for the property investors in Dubai market, with demand for premium homes in the city increasing, led by Dubai’s status as the region’s business and lifestyle hub. With this prestigious project we aim to meet the high demand for a project with all the perfect elements that the market demands.

“The success of G&Co projects, marketed by SPF Realty, reflects the increasing demand for housing properties in Dubai as more investors from different parts of the world are coming to this market.

“The sprawling green gardens and picturesque landscaping of Jade at the Fields community will be home to 360 spacious townhouses of three and four bedrooms. This community is set to offer a community pool and gym, retail space, landscaped garden, parks and kids play area, and other modern amenities.”

“The off-plan freehold properties - three and four bed townhouses - are offered at low prices per square feet, with a starting price of Dh2.26 million ($620 million), and 35 percent of the property value is payable easily in half yearly installments over a period of 30 months,” said Sampat.

“The payment plan allows the buyer to book the property at a five percent down payment (plus four percent Oqood), and six percent payment every six months until completion of the project. Payment of the next fifteen percent of the property value is payable on handover of the property, and the remaining 50 percent is payable in quarterly installments over three years after handover of the property. Groundbreaking of the project will be made in the first half of 2016, and its completion is expected in the third quarter of 2018,” he said.

The Mohammed Bin Rashid al-Maktoum City is a multi-billion dollar city project, which will include the world's biggest shopping mall, a universal family theme park and a park that is a third bigger than Hyde Park in London, said the statement.

‘Jade at the Fields’ has a serene setting at the heart of the Mohammed Bin Rashid al-Maktoum City, inspired by the greenery and openness of nature infused with a subtle oriental influence, it said.

Investors of any nationality, irrespective of their residency status, can buy properties in Jade at the Fields. The property purchased by an expatriate will be put in his/her name for life, which will allow the buyer to register the property in Dubai Land Department.

The owner will then have full rights to the property, including the right to sell, lease or rent it at his/her own discretion. This property can also be inherited, in line with Dubai government laws, it added.

Copyright 2022 Al Hilal Publishing and Marketing Group

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