Phase one of Dubai’s Vincitore Palacio project ‘90% sold’
Mid-segment project launched two months ago and most units in first release have now been sold, developer says
The AED 135 million ($36.7m) Vincitore Palacio, a mid-segment residential project coming up in Dubai’s Arjan area, has seen 90% of units in its first phase sell out within 60 days of being launched, according to its developer.
Project owner Vincitore Real Estate Development said in a statement that the property was launched earlier this year with starting prices of AED475,000 per unit. Located in the Dubailand district, it is spread over 81,500 square feet of land and will offer a total combined living space of 200,000 square feet across all units on four floors. The project is expected to be ready for handover starting May next year, the statement added.
“Even at a time of softening property prices in the UAE, demand for quality developments that offer value to investors remains high,” said Vijay C. Doshi, founder and managing director, Vincitore Real Estate Development.
“Positive responses for Vincitore Palacio not only reflect the strength of Dubai’s real estate sector but also effectively fills the gap for affordable yet… premium homes that reflect style, elegance and luxury while fulfilling Dubai’s sustainable energy requirements. Our commitment to deliver the project on deadline has also appealed to our investors and buyers who want either to own property as an investment or to live in it.”
TUV Nord Germany (ME), a third-party quality assurance organisation, will undertake all quality control of Vincitore Palacio to minimise risks and damages, as well as to avoid delays and additional cost due to rework, the developer’s statement added.
The project comprises 175 units of studio, one- and two-bedroom apartments that feature clean energy solutions such as LED lighting, a central gas system that reduces consumption by nearly 20% and water systems that save up to 7.2 million gallons of water annually, the developer said.
Other features include a sun deck for each apartment, secured access with video intercom, a 60-foot temperature-controlled swimming pool and other fitness and leisure facilities, the statement added.
