Dubai-based developer Green Yard Properties Development has announced the launch of its new residential project, Joya Blanca, located within the Arjan Al Barsha community in Dubai.
Estimated to cost $41 million, the project features 313 residential units including 153 studios, 151 one-bedroom apartments and nine two-bedroom apartments. Each of these apartments will feature modern colours and high-quality finishing, while the whole project is said to be sustainable and eco-friendly, Green Yard said in a statement.
According to the developer, the company aims to provide high-end residential units within all its developments, and at competitive rates starting from $83311.5 onwards along with a guarantee for the investors of a profitable return on investment of 8%.
In line with Real Estate Regulatory Agency’s (RERA) new regulation, Joya Blanca conforms with depositing 50% of the project’s cost upfront to lower the risk for the investors. Additionally, buyers and investors will benefit from flexible payment plans of up to 5 years with a down payment of 10%.
Eng Mahmoud Awad, managing director of Green Yard Properties Development, said that working on the Joya Blanca project began at a time when the Covid-19 pandemic imposed the worst economic conditions in the region.
He added that this increased their confidence in the strength and stability of the business environment in Dubai, and emphasised that the emirate is considered an encouraging and supportive environment for business and foreign investments. This in-turn contributes to reinforcing its regional leadership and global position by offering a suitable environment for investors and the best conditions for local and global dealers, Awad added.
He further stated that the company has recently started the project’s constructional work and completed more than 15% of it. Awad also noted that he expects an increase in demand for residential units in the project as a result of their competitive prices and payment facilities, as Green Yard is keen to provide flexible payment plans for all its projects.