The development will cover over 325,000sqm and comprise of 2,635 units
UAE property developer Seven Tides says SE7EN CITY JLT, its first mixed-use development in the Jumeirah Lakes Towers (JLT) district of Dubai is already 15% complete and due for completion within three years.
The project is valued at $350 million and will comprise of 2,635 units with features including a common podium, which plays host to promenade restaurants overlooking a lake.
The development will cover over 325,000sqm and is situated within Cluster Z in DMCC, opposite the Montgomery and Emirates’ golf courses and the Emirates Hills community and its residential element consists of studio, one, two and three-bedroom apartments as well as a limited number of duplex apartments, said Seven Tides.
“SE7EN CITY JLT is designed to provide everything a resident might possibly want, with retail, entertainment, food and beverage outlets, a nursery, gym and a health club. However, when residents do venture outside, they’ll still be able to enjoy the urban vibe, with the excitement and fast-paced, hustle and bustle of city life, right on their doorstep. In complete contrast, residents will also have the best of both worlds, with stunning panoramic views of Jumeirah Islands, the Montgomerie and Emirates Golf Courses, the Palm Jumeirah, Dubai Marina and Jumeirah Beach Residences,” said Abdulla Bin Sulayem, CEO, Seven Tides.
The tower also features a gym, health club, infinity pool, children’s pool, a roof garden, cafes, other dining options, a large retail offering, covering 14,000sqm over three floors, which will include a hypermarket, as well as car parking spaces totalling 2,699, with an additional 620 spaces dedicated to retail parking, including valet.
“SE7EN CITY JLT also has a very attractive easy payment option consisting of a 5% deposit, followed by payments equal to 6% of the cost price, to be paid every subsequent quarter, with a completion date of Q3 2021. We estimate that studios should yield 12% per annum,” added Bin Sulayem. “This development also highlights the flexibility of the SE7EN brand, it works equally well as a leisure resort on the Palm Jumeirah, as it does within an urban setting in JLT. And investors can expect the same level of quality décor and finish, presented in a contemporary and techno-trendy fashion and with the same compelling value proposition.”