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The newly rebranded Dubai South has launched ‘Villages’, the first phase of which will launch 6,000 apartments to be delivered in 2019.
The clusters will deliver a total of 20,000 apartments across its multiple phases, which officials at the developer said provide an “innovative concept in urban living”. “The residential component of each village will be wrapped around a ‘community core’, which will comprise exclusive assets such as a well-reputed and recognised K-12 school, a civic centre, a health and wellness complex, high street and retail outlets,” said an official.
Sales will be launched in the next few months. The units will include two- to three-bedroom apartments, loft apartments, townhouses and villas .
Sales prices have not been fixed as yet. “Individuals and businesses are at the heart of the development,” said Rashed Bu Qara’a, chief operating officer, Dubai Aviation City Corporation, the master-developer of Dubai South.
The Dh25 billion project will comprise various ‘villages’, each spanning 1 square kilometre.
The project will also include a High Tech City and Economic Zone with offices for professionals. Businesses will be entitled to tax exemptions, 100 per cent ownership and 100 per cent repatriation of capital profits.
“We are in close discussions with financial institutions, equity partners and bulk buyers for the project,” Bu Qara’a added.
While the apartments will be launched on a freehold basis, the developer has also proposed a rent-to-own programme for residents.
Source: Staff Report, gulfnews.com