Dubai developer launches $218,000 apartments to market
Launch of one-bedroom units in Sports City comes as analyst tips prices in ‘affordable’ area to rise
Dubai-based real estate firm GGICO Properties has launched a new freehold apartment complex in Dubai Sports City, expected to be completed in April this year.
Prices for units in Grand Horizon Apartments, which opened for sales on February 7, start at AED 800,000 ($218,000) for a one-bedroom apartment, with units ranging in size between 76.64 sqm and 106.84 sqm.
The developer is also offering financing through a 3-year payment plan at 2% per month, with 0% interest, from completion.
“Grand Horizon Apartments combine excellence in construction standards, high quality fixtures and fittings, superb location and great value for money. We are offering a product that everybody living and working in the UAE can purchase, whether for end use or for investment,” said Andrew Chambers, CEO, GGICO Properties.
The project offers access to Sheikh Mohammed Bin Zayed Road and Al Khail Road as well a number of malls, stadiums, and sporting academies, according to a company statement.
Although apartments in Dubai Sports City are currently in the affordable bracket, prices are expected to rise, said John Stevens, managing director at Asteco.
“Communities such as Dubai Sports City and Dubai Silicon Oasis are currently priced in the affordable bracket, as they are still incomplete, with significant levels of ongoing construction. Asteco however expects that as these communities complete, some of the better quality buildings would most likely see price increases, putting them in the mid-income bracket category,” Stevens said.
“This is especially true for Dubai Sports City, where once the canal is flooded and the IMPZ City Centre Mall by Al Futtaim is completed nearby, will have good levels of supporting facilities in an attractive environment, in proximity to the Els Golf Course,” he added.
