Thursday 23 November 2017

Premium development launches announced in Dubai

Dubai’s developers have announced new launches at the high-end of the residential market – indicating to some local analysts, that the current upturn in the market will continue to be dictated by what is on offer at the premium end of the property ladder.

Premium development launches announced in Dubai

Seventh Heaven by Al Barari will be a mixed-use development. Photo: Al Barari

February 16, 2014

Al Barari, a Dubai developer with a focus on substantial villa plots set in a low-density community, is expanding its development strategy to encompass apartment blocks.

Their latest development, Seventh Heaven, will comprise one-bedroom units starting well upwards of Dh2 million (US$545,000). At the top of the scale, the price tag would be Dh16 million (US$4,350,000).

However, unit sizes at Seventh Heaven will be larger-than-average with standard homes of one- to three-bedrooms ranging from 2,000 to 3,850 square feet, while the “exclusive” residences are between 2,970 to 6,600 square feet.

Another premium development, Meydan Sobha, has just launched villas at District One of Mohammad Bin Rashid City. Market sources say values at the City are well upwards of Dh1,800 (US$490) a square foot and that the limited releases to date have attracted a lot of attention.

According to data from Asteco property consultancy, across Dubai villa rentals were up 20 per cent year-on-year at the end of the fourth quarter of last year.

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