LRED launches $19mn residential project targeted at young professionals
LOCI is a 114-unit project that caters to the lifestyles and needs of younger and dynamic residents, developer says
Lootah Real Estate Development (LRED), the real estate development arm of Lootah Holding and a property developer dealing in master-planned, mixed-use communities and innovative lifestyle developments, has announced the launch of its new project, LOCI, a $19 million-valued modernistic and dynamic living facility that aims to target the needs of the UAE’s young professionals and learners.
Featuring park views, amenities, and a modern design, LOCI, derived from Latin meaning places or community, stands at five stories and covers an area of 3079 sqm. In a statement, the developer highlighted that the project demonstrates a lesson on innovative design built on an intimate scale.
The project consists of 114 units, ranging from impressively designed studios, to 1- & 2-bedroom apartments, based around three broader themes: Miami minimalist, New York Lofts and London Docks. These themes will be supplemented with differentiating tones, expression and ambiance, offering residents an elegant, luxurious, trendy and holistic lifestyle approach.
Commenting on the launch, Raja Alameddine, CEO of Lootah Real Estate Development, said: “We realise that youth are the UAE’s greatest asset and the foundation of country’s future. With more and more youngsters entering the workforce, Dubai is becoming a popular place for young professionals and dynamic learners.
“LOCI not only allows our target market to choose and customise their living space according to their needs and desires by offering them options to pick styles and layouts, but also offers them a user-friendly, modern and high-quality accommodation to relax, taking a breath of fresh air from the mundane, and breaking the mould of apartment living.”
Coinciding with country’s commitment to sustainable development, Alameddine says that LOCI will take the lead on sustainable living experience by offering eco-friendly, cleaner and smartly designed utilities to reduce heat transfers. Energy reflection materials, on-site water filtration facilities, smart ACs, solar-powered lighting and App-driven home maintenance system and other behind-the-scenes systems enhance the environment within the residential units.
The project will also feature gym facility with high end machines. Additionally, a space is designed for residents to practice yoga and meditation along with a rooftop pool. The interiors of the project are meticulously designed by JPA design, an award-winning multinational design company.
“At Lootah, we continue catering to all segments of the community. With changing times and needs, we want to offer exceptional accommodation experience to UAE’s thriving and young millennials and Gen Z. Loci has been designed keeping in consideration the need for a lifestyle experience that can meet the ambitions of youngsters, and at the same time, offer all the necessary amenities to lead an enjoyable, productive, and sustainable life,” added Arash Dara, Group Chief Executive Officer of Lootah Real Estate Development.
The project is situated in JVC and is located along entrance 1 in JVC, LOCI is in close proximity to Nakheel Mall, Circle Mall, 5-star hotels, multiple restaurants, shops and groceries and landscaped parks.
