Project expected to be completed in early 2019
Dubai Properties is preparing to tender for the main works for its super-luxury 1/JBR development, according to a local media report.
The developer said work has already begun on site and a lead contractor will be appointed soon, Gulf News reported.
“We will tender for the main works and appoint the lead contractor soon. We have great relationships with key players in the sector, with many projects under our belts together,” Marwan Al Kindi, executive director for Sales and Sales Operations at Dubai Properties, is reported as saying.
1/JBR is now open for sales registration, with sections of the tower being released for sale in different markets, Al Kindi added.
“Registration is now open exclusively through our sales partner – Gulf Sotheby’s International Realty,” he said. “1/JBR is unique in terms of its niche… as it represents another landmark within a well-established destination that enjoys relatively stable market prices to position against,” he said.
When asked about the timing of the sales process, Al Kindi reportedly said that the project has been “strategically planned to cater to market demand based on forecasts done through conservative analysis and cautious projections.”
1/JBR consists of two- to four- bedroom apartments and five-bedroom penthouses amounting to 152 units across 46 floors. The developer declined to comment on the price range of these units. Completion of the project is expected in early 2019.