Last Week In Real Estate: 30 December To 5 January
Happy first Friday of 2018!
We’re barely a week into the new year but UAE real estate is surely gearing up for what will be an impressive year of announcements, launches and developments.
first solar powered villa in hatta connected to grid
As part of the Shams Dubai initiative, the first of 640 villas in the Hatta solar project has been connected to the grid. The project will allow the owners of buildings to fix solar panels to their rooftops in order to generate electricity via solar power and is being implemented by Etihad ESCO (who in turn have hired Dubai Carbon to acquire, build, install and maintain this solar photovoltaic system for 430 of the villas).
The CEO of Dubai Carbon, Ivano Iannelli commented that “The grid-connected solar project in Hatta will provide energy savings to Hatta residents, as well as support the development of renewable energy in the region. Several factors are driving solar’s ever-increasing adoption, from improved technologies and falling installation costs to endorsement from government. Through Safaqat, we make it even easier and accessible for homeowners and tenants to embrace solar energy.”
casa familia phase 2 in motor city ready for handover
National Properties (part of National Bonds) has announced that the second phase of their Casa Familia townhouse project is ready for handover. Located in Motor City Green Community, there are 95 townhouses ranging from three to five bedrooms, each with large entrance halls, contemporary kitchens, a study, maid’s room, two car garages and private gardens.
The handover comes one year after the development launched, and National Properties offered buyers a rent-to-own payment plan, to be completed within a decade of the handover.
Commenting on the project, CEO of National Bonds, Mohammed Qassim Al Ali, said, “This confirms the company’s commitment to execute its projects in accordance with the time-bound plans, and we are committed to continue our real estate investments in the UAE, with great confidence in contributing to the social and economic development adopted by the wise leadership of our country. Green Community is a significant component of the rich Motor City community, as it provides a way of life within a secure environment comprising landscaped gardens, water features, cobblestone streets and walkways with natural greenery that further enhances the peace and tranquillity provided.”
construction contract for riu and nakheel resort awarded
Spanish RIU Hotels & Resorts along with developer Nakheel have awarded a construction contract worth AED 385M to Bin Ladin Contracting Group LLC Dubai. The contract is for the building of the 800-room waterfront resort and waterpark on Deira Islands, Dubai. The resort is due to be delivered in 2019 and will be a mid-scale, family-oriented establishment and marks RIU’s first in the Middle East – it will also be one of Dubai’s biggest when it comes to hotel rooms.
Nakheel Chairman, Ali Rashid Lootah, said: “Today marks a key milestone for the Nakheel Hospitality, Deira Islands and Dubai. Our first international joint venture will bring a new dimension to Dubai’s hospitality offering by providing a new concept in accommodation and attracting a new market segment to the emirate. The RIU resort at Deira Islands is a shining example of our commitment to delivering a diverse range of tourism-related projects that will help the government achieve its 2020 tourism targets, and I look forward to seeing this exciting resort come to fruition.”
That’s all from us! If you’re stuck for a few things to do this weekend, check out our January events roundup.
