‘Residence Collection’ units part of $3bn project on the Dubai Water Canal
Al Habtoor Group has launched the sale of the ‘Residence Collection’ properties at its $3bn development by the Dubai Water Canal and Sheikh Zayed Road.
The units at the Al Habtoor City development in Dubai are expected to hand over in early to mid-2017, the developer said in a statement.
The sales launch, held in Dubai, was co-hosted by Mohammed Al Habtoor, Vice-Chairman and CEO of Al Habtoor Group, and Brian Etemad, CEO of Tamleek Real Estate, which has partnered with the developer.
“Al Habtoor City is the new centre of Dubai in an unparalleled location. It is right on the banks of the Dubai Water Canal and on Sheikh Zayed Road,” Al Habtoor said.
Brian Etemad said there had been “incredible” initial interest in the development. “It also marks the first time international investors can purchase a property on Sheikh Zayed Road and the Dubai Water Canal,” he said.
The Residence Collection units span three towers: two at 74 floors, and one at 52 storeys. There are a total of more than 1,000 units, Al Habtoor Group said, ranging from one to seven bedrooms. There are also 12 penthouses, three of which are spread over four floors, the company said in a statement.
Khalaf Ahmad Al Habtoor, Chairman of the Al Habtoor Group, said construction of the towers is well underway.
“Homeowners are buying something tangible, they are not buying sand. They can already see the three residential blocks taking shape on the Dubai skyline. We have already reached nearly 50 floors. We are a credible developer that consistently delivers on time, or ahead of schedule. That’s an Al Habtoor promise,” he said. “It marks the first time that we are sharing one of our developments with investors. This is our flagship property.”
The Al Habtoor City development sits directly on the Dubai Water Canal, which is due to be completed later this year, and has its own marina.