Top five most expensive projects at Cityscape Global revealed
$10.5bn worth of projects from five just exhibitors at the event, says organisers
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Taking advantage of the region’s largest gathering of real estate professionals, developers took to the halls of the Dubai World Trade Centre to announce and showcase projects worth billions of dirhams.
Out of the 300 companies at Cityscape Global, five local developers have exhibited projects worth a total $10. 5 billion making up a large portion of the total value of projects onsite. With the value of many of the announced projects expected to come to light in the coming days, the running tally is projected to grow substantially.
Running until Thursday 4 October, Cityscape Global has seen developers competing for the attention of first time buyers, seasoned real estate owners and major investors with offers of attractive payment plans, fee waivers and additional bonuses on new and existing projects.
The Top 5 most expensive projects were:
Arada – Aljada ($6.53 billion)
Announced on the opening day of Cityscape Global, the Central Hub, designed by Zaha Hadid Architects, is the focal point of Arada’s $6.53 bilion lifestyle destination, Aljada. The developer is also offering visitors the chance to purchase one of 109 semi-detached villas and townhouses in its nature-themed Sarab Community onsite at the Dubai World Trade Centre.
Arada is one of many Sharjah developers joining the freehold movement in the emirate, allowing foreigners to invest their money in the real estate industry, following a change in the law in 2014.
Aldar Properties – Alghadeer ($2.72 billion)
Featuring more than 14,000 units, Aldar’s Alghadeer is a $2.72 billion master-planned development located on the border of Abu Dhabi and Dubai.
Aldar is offering Cityscape Global visitors who buy homes at Alghadeer a 2% registration fee waiver and a 3-year holiday on service charges, as well as a monthly payment plan enabling customers to buy their home from as little as $735 per month.
Binghatti Developers – Portfolio Projects ($410 million)
Binghatti’s total portfolio of available projects, which includes the recently announced Millennium Binghatti Residences and Binghatti Stars top a value of $410 million.
For sales onsite, they are offering a reduced 1% booking fee, free interior design, zero per cent commission and an onsite mortgage approval from Mashreq Bank. Additionally, they also have an exclusive deal that allows buyers to live in an existing unit in an existing Binghatti project rent free until handover has been completed.
Union Properties – Avenue District ($680 million)
Part of Dubai Motor City’s phase two development plans, Avenue District is a mixed-use lifestyle destination announced on the opening day of Cityscape Global.
Valued at $680 million, Avenue District will offer over 300 residential units as well as a state-of-the-art 100,000sqft BMW and MINI showroom.
Nakheel – Dragon Towers ($194 million)
Nakheel’s Dragon Towers is a twin building high-rise apartment complex that offers one and two-bedroom units starting at $122,238.
With a total development value of $194 million, the project will be built at Dubai’s rapidly-expanding Dragon City mixed-use community.
Other major announcements
Other major developments and projects launched on the opening day of the show include Marsa Meydan by the Meydan Group, a Newport Beach style residential and lifestyle community in Jebel Ali featuring a climate-controlled marina and waterfront villas with private pontoons, a first in Dubai. Meraas’ Port de la Mer was also announced during the first day of the event and is set to be a beach front master developed project in the heart of Jumeirah. Located in the Northern Peninsula of La Mer, it will offer a mix of residential suites, four and five-star hotels and a 192-berth superyacht marina.
Cityscape Global returns with support from Foundation Partners: Dubai Holding and Nakheel; Platinum Sponsors: Eltizam Asset Management and Marjan Island and; Silver Partners: Noyanlar and Tamleek Real Estate; and Strategic Partner: Dubai Land Department.
