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New property in Jumeirah Village, Prodigy, to be exhibited

- February 24, 2007, 10:55 pm

Dubai and London based property wealth managers MiNC Property Enterprises is exhibiting its new apartments project, Prodigy, in Dubai’s Jumeirah Village South development at the Jeddah International Real Estate Financing & Housing Exhibition (JIREX 2007) from 24 February to 1 March 2007.

MiNC had earlier identified Jumeirah Village South as Dubai’s next affordable property hot spot and has recently acquired several new plots for its freehold housing projects. At JIREX 2007, MiNC will also be exhibiting Marina Suites, its exclusive serviced apartments project in Dubai Marina, and some of its London properties as well.

Prodigy will cater to middle income end users and investors. It will be developed, built and managed by MiNC and will offer fully furnished studio, one, two, three and four bedroom apartments with 8% rental returns per annum for 2 years. The project will comprise of ’smart’ buildings with 24 hour wireless broadband internet and a host of other amenities including swimming pool, gym, steam room, sauna and basement parking for all apartments.

In June 2006, MiNC launched and sold out Jumeirah Suites, its premier housing project at Jumeirah Village South. The second project at Jumeirah Village South is expected to be completed by the end of 2008.

Haroon Mahmood, Chairman of MiNC Property Enterprises, commented, ‘We were an early believer of the huge potential of the value end of the Dubai property market and our confidence in this sector has already paid off for investors and end users who snapped up our first Jumeirah Village South project. Prodigy will include different types of buildings which will cater to a wide audience with different needs and requirements.

We spend considerable amounts of time and resources in identifying market trends and offering competitive products and services to our customers. We are, based on this, very bullish about the affordable segment of the Dubai residential property market believing it to be an absolute necessity. At present, and for the foreseeable future, demand far outstrips supply.

Investors and end users will benefit from a low entry price and can expect an attractive return on investment.’

Jumeirah Village South is ideally located between Sheikh Zayed Road and Emirates Road and is at the heart of the emerging ‘New Dubai’. One of its distinct advantages is its proximity to Dubailand, one of the biggest leisure and urban infrastructure development projects in the world. Jumeirah Village South is an exquisite community designed for quality living and will feature a community centre, tranquil waterways, gardens, sports pitches and promenades with scenic trails. It is also located near some of Dubai’s world class golf courses such as the Jumeirah Golf Estate and the Montgomerie Golf Club. Jumeirah Village South is also in close proximity to entertainment and shopping hubs such as Ibn Battuta Mall, Mall of the Emirates and Hard Rock Café. Prominent places such as Dubai Media City, Internet City and Jebel Ali Free Zone are a few minutes drive away.

MiNC Property Enterprises is a well established property wealth management company with offices in Dubai and London and currently manages a substantial portfolio of property including some high-profile developments. MiNC was among the first property firms to identify the real estate potential of London’s Canary Wharf and the Dubai Marina. The company’s services include residential investment, serviced apartments, independent mortgage/re-mortgage assistance, lettings and interior design.

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