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Prices at the many residential clusters in Jumeirah Golf Estates have been running stable in recent quarters, with individual units ranging from Dh5.5 million to Dh18 million. The latest launch, that of the Redwood collection in September, has been building up market interest and will looking to the DP World Tour Championship this week to present its credentials to a wider investor base.
''This year, we have taken the strategic decision to introduce a collection of town houses in response to changing customer demands,'' said Yousuf Kazim, General Manager, Jumeirah Golf Estates. ''This is a statement of intent which underlines the community's ability to tailor its offering ... providing greater choice through a growing number of options.
''In certain markets, the impact of the economic downturn is still felt. That said, improving growth forecasts and recuperating real estate sectors are reviving property interest.''
According to Katie Geeves, sales director at Acrohouse Properties, ''Values (at JGE) have remained the same as opposed to neighbouring communities such as Victory Heights where we have noticed price drops. Between December to April, transaction levels at JGE were a lot higher.
''There has been more interest in Victory Heights in the past quarter as prices have dropped. It is now an area which appears to be good value for money with large villas and good-sized plots selling at cheaper prices.'' (Price range for Victory Heights' homes are now between Dh3.2 million to Dh18 million).
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Source: Manoj Nair, Associate Editor, gulfnews.com