Last week in real estate: 3 – 7 June 2018
We are back again with this week’s roundup of Dubai real estate news. It’s a brand new month with a lot of exciting Dubai property news, so let’s take a look which real estate headlines are making waves. This week in Dubai property news, the Dubai property market saw the announcement of major property development projects. Read on to find out more the latest property news in Dubai.
Address Downtown reopening soon
The top real estate headline in Dubai property news this week is the reopening of the Address Downtown. Nearly three years after the fire on New Year’s Eve 2015, the hotel is ready to open its doors to welcome hotel guests and visitors after an intense round of construction and renovation.
The brand new Address Downtown will feature a beautiful new design for the hotel rooms and suites interiors, newly refurbished spa, and a number of fine dining restaurants such as Turkish restaurant The Galliard, and steakhouse STK. When reopened the newly refurbished 302m tall hotel will have 220 rooms and suites.
Commenting on the re-opening of the hotel, Olivier Harnisch, CEO of Emaar Hospitality Group, said, “Address Downtown holds a very special place in the hearts of all discerning travellers and guests. With the opening of Address Downtown, Emaar is bringing to life a crowning glory in its hotel assets. Working with world-leading designers and consultants, the all-new Address Downtown ushers in an exceptional lifestyle choice and sets new standards in luxury hospitality.”
AED 300M PROJECT LAUNCHED AT JUMEIRAH VILLAGE CIRCLE
The next real estate headline that is making headway in the Dubai property market is that of Moafaq Al Gaddah (MAG) Lifestyle Development, announcing that they will launch two projects in Jumeirah Village Circle (JVC). The projects will comprise two towers, namely MAG 614 and MAG 612. Both towers will stand 20 floors high and comprise of 223 units and 144 units respectively. The entire project by MAG is said to be valued at AED 300M.
Commenting on the announcement of the project Talal Moafaq Al Gaddah, CEO of MAG Lifestyle Developments said: “Based on our in-depth, customer-centric research, we know that Jumeirah Village Circle is a community to watch and we are confident that we will be adding significant value to the area. We are set on maximising the potential of strategic locations across Dubai for the benefit of our customers, offering them higher returns on investment.”
MAG Lifestyle Development is part of the MAG Group and pioneers affordable housing initiatives and high-end luxury property developments. The project is a major headline for Dubai real estate news as it is the first time the developer has entered this sector of the Dubai property market.
Dubai Hills Mall hits 60% completion milestone
Next on our roundup of property news in Dubai is a construction milestone. Located in the heart of the Dubai Hills Estate, with a workforce of 5,000 on site, Emaar Properties has announced that Dubai Hills Mall has completed 60% of its construction and will be scheduled to open on time. The 2M sq. m. mall will feature more than 650 trendy retail outlets, restaurants, an 18-screen movie theatre and an 18-hole championship golf course.
The Dubai Hills Estate is a recent addition to the Dubai property market. The properties for sale in Dubai Hills Estate are residential complexes that have luxury and mid-range villas, townhouses and apartments.
“Dubai Hills Estate is today one of the most sought-after lifestyle destinations in the city, with strong customer response to our residential launches. With the Dubai Hills Mall, we continue to build on our track-record of delivering exceptional lifestyle destinations with world-class amenities to serve the residents and visitors,” said Ahmad Al Matrooshi, Managing Director of Emaar Properties.
new Zabeel House by Jumeirah hotel opens in Al Seef
The last real estate headline on our roundup of property news in Dubai, is the addition of a new hotel. Get ready to welcome another spectacular hotel at the beautiful Creekside destination of Al Seef. Located next door to the earlier opened Zabeel House Mini by Jumeirah, the Zabeel House features more than 200 rooms which are perfect for both families and individual tourists.
The hotel is particularly great for tourists as it is conveniently located 15 minutes away from all the major areas of Dubai, which include, Downtown Dubai, Dubai Mall and the Jumeirah beaches. The hotel also comes fully equipped with an edgy modern design, countless dining options and a rooftop pool that has views across both old and new Dubai. It also includes other facilities including an indoor gym, complete with sauna, steam room and two treatment rooms.
This brand new hotel is a perfect addition to the hotel industry in Dubai as it provides guests and visitors with an opportunity to experience Dubai in a different way. The location of this hotel allows guests to easily explore the older parts of the city including the wind towers, galleries and cafes of Al Fahidi as well as the spice, textile and gold souks.
That was this week’s roundup of the top Dubai real estate news. Now that you are all caught up with all the real estate updates in Dubai, check out our rundown of events happening in June.
