Dubai – Mubasher: Properties Investment on Sunday announced delivering 76 townhouses as part of its first stage in the Green Community Dubai Investments Park (DIP) – West Phase III in line with its scheduled timeframe.
Covering an area of 1.48 million square feet, the AED 97 million project comprises 210 townhouses being built on three stages, Properties Investment, which is 70% owned by Dubai Investments and 30% by Union Properties, said in a statement.
The second stage of the project is slated for hand over by October 2017, while stage three is expected to be completed by the end of the year.
“The handover of the first stage of the Green Community Dubai Investments Park – West Phase III is a significant milestone, and reinforces the commitment of Properties Investment in completing and handing over its projects on schedule,” said Dr. Rashid Abdulla Al Haji, general manager of Properties Investment.
Despite the current market conditions, the luxury real estate segment remains attractive to investors, the top official added, highlighting that “High-quality developments such as the Green Community DIP – West Phase III will continue to witness strong demand, driven by its salient advantages.”
Dewan Architects and Engineers has joined Properties Investment as the project’s lead consultants, while Shapoorji Pallonji Mideast joined as the main contractors of the Green Community DIP – West Phase III project.
Moreover, Properties Investment is working on expanding “The Market shopping arcade” and plans to add 200 retail shop units, which will be developed on an area of 65,000 square feet.
