Member Options
Login Register Why Register ? Forgot Password Activate Account

Property Search

Type All Apartment Penthouse Duplex Triplex Loft apartment Condo Town houses Villa Farm house Beach house Shop Office Unit Office Floor Retail Unit Restaurant Plot Bedroom All Nill Studio 1 2 3 4 5 6 7 8 8+ Area All Less than 500 Sq.Ft 500 to 1000 Sq.Ft 1000 to 1500 Sq.Ft 1500 to 2000 Sq.Ft 2000 to 2500 Sq.Ft 2500 to 3000 Sq.Ft 3000 to 3500 Sq.Ft 3500 to 4000 Sq.Ft 4000 to 4500 Sq.Ft 4500 to 5000 Sq.Ft More than 5000 Sq.Ft Price All Less than 500K AED 500K to 1000K AED 1000K to 1500K AED 1500K to 2000K AED 2000K to 2500K AED 2500K to 3000K AED 3000K to 3500K AED 3500K to 4000K AED 4000K to 4500K AED 4500K to 5000K AED More than 5000K AED

Real Estate News
Radisson SAS Residence, Dubai Marina opens luxury apartments Etihad launches daily flights to Chennai and Kozhikode Bab Al Bahr Office Tower launched by Rakeen Global Investment opens Mushaa Real Estate Sorouh updates on Construction Works at Al Reem Island

Lakeside Residence sold out more than three-quarters

- February 13, 2007, 3:11 pm

Al Manal Development reports that it has sold more than three-quarters of its prestigious Lakeside Residence project at Jumeirah Lake Towers in well under a year.

The 35-storey AED 300 million residential tower is currently on schedule for handover at the end of 2008 and has attracted a mix of buyers from the US, UK and Middle East, most who plan to live there.

Chairman of Al Manal Development Juma Al Ghurair says this demonstrates demand is still strong for quality projects in Dubai and he believes it will continue to be so in the immediate future.

‘Purchasers can see a lot of progress in the surrounding area and not just new buildings. The metro line is well advanced, new roads are well under way and, in the Jumeirah Lake Towers area, the master developer Nakheel is putting the final touches to the promenade and lake construction.’

Al Ghurair says this has given people confidence to buy off the plans, because they know that by the time they move in at the end of next year the surrounding community will have moved from being a ‘work in progress’ to a vibrant place to live, work and play.

‘Where else could you get such a striking skyline as presented by the Dubai Marina as a back drop to our peaceful waterfront location right on the lake?’

While there are less than a quarter of the apartments left for sale, not all are being put on the market at this time - Al Manal Development intends holding some back until the project is completed.

‘There is no urgency for us to complete the sales process,’ Al Ghurair says. ‘We want potential purchasers to feel that they have been able to take their time and that they have made the right decision on where to buy.’

In addition, Al Ghurair believes there will be a premium to be extracted from sales of apartments ready to move into, and Al Manal Development is keen to maximise its opportunities in this area.

Those wanting to buy one of the apartments currently on the market have a choice of three easy financing options - either through Mashreq Bank, Emirates Islamic Bank or a mortgage plan direct from the developer.

Lakeside Residence was launched in March last year and the ground breaking ceremony took place in April. Sales commenced at the same time.

Related News

Nakheel partners with US food retailer Balducci’s

Azizi Investments confirmed purchase of land at Mina Rashid

Nakheel and Dubai Islamic Bank Tashyed begins development

Nakheel reveals progress with Port Rashid redevelopment

Nakheel signs contract with Al Shafar

Latest News

Dubai Property Prices to fall by 2011

Tamweel announced that it expects higher growth in 2008

Realty Capital cooperates with Al Naboodah to boost i-Rise

JCA Real Estate reveals Dhs252m residential Emerald Tower

Arabtech Construction to construct Dubailand Project

News Archive

Currency Converter
From : U.A.E. Dirham Euro Pound Sterling U.S. Dollar To : U.A.E. Dirham Euro Pound Sterling U.S. Dollar