‘Boutique’ developer to add over 2,200 residential units to market
Ellington Properties, which is co-run by former Emaar executive Robert Booth, says it is working on 14 developments and plans a vast pool of “affordable” rental units in Dubai.
The “boutique” developer says the 14 new projects in Dubai will comprise of over 2,200 residential units including apartments, townhouses and villas.
The first project, in Jumeirah Village Circle, is among four developments that have already broken ground, Ellington said in a statement.
Ellington Properties also said it has plans for the development of affordable rental properties, which will see over 10,000 units being developed by 2020.
The company is led by Robert Booth, former chief executive of Emaar Properties’ Dubai operations, and fellow property industry veteran Joseph Thomas.
The company says it has over 3.6 million square feet in gross floor area under design and construction.
“Dubai has evolved as a new global city all within the space of 10 years during which over US$85 billion was invested in infrastructure projects. Simultaneously, the emirate’s population grew from 1 million in 2000 to over 2.5 million in 2015,” Booth said in a statement.
“The city will be home to over 3.2 million people by the time Dubai hosts the Expo 2020. The next four years will also witness an increase in the number of discerning customers who appreciate design and quality over price points. Ellington fills that space.”
Joseph Thomas said the homes “will set a benchmark in property development”.
He added: “We launch our projects for sale only after we attain significant construction milestones. This ensures complete transparency in all our operations, adding to investor confidence.”
Ellington’s first project, Belgravia in Jumeirah Village Circle, is a five-storey residential building with 181 one, two, and three bedroom units. Construction will be completed in December 2016, the developer says.
It has three other projects that have commenced construction activity – DT1, a 17-storey tower with 130 studio, one to four bedroom apartments in Downtown Dubai; The Ellington Collection, a set of high-end luxury villas on Palm Jumeirah, and Belgravia II, a five-storey residential building with 188 studio, one, two and three bedroom units in Jumeirah Village Circle.