Property

SPF Realty to sell townhouses at project in MBR City, Dubai

Ground-breaking on the Jade at The Fields development is expected in the first half of 2016

PHOTO: The Jade at The Fields project is scheduled for completion in the third quarter of 2018. Credit: Supplied

Property broker SPF Realty has been appointed to sell townhouses at a planned $272.2 million (AED1 billion) residential project in Dubai’s Mohammed Bin Rashid (MBR) City.

The project, titled Jade at The Fields, is to be a gated residential community consisting of 360 townhouses, developed by G&Co. It marks the third partnership between G&Co and SPF Realty after their two other developments, the $408 million (AED 1.5 billion) Millennium Estates, and $735 million (AED 2.7 billion) Grand Views at Millennium Estates.

Kalpesh Sampat, director of SPF Realty, said the new development is in line with an increasing demand for premium homes in Dubai. The project will break ground in the first half of 2016, and completion is expected in Q3 2018, he added.

“The off-plan freehold properties – three and four bed townhouses – are offered at a starting price of AED 2.26 million ($615,308), and 35% of the property value is payable easily in half yearly instalments over a period of 30 months.”

Investors of any nationality, irrespective of their residency status, can buy properties in Jade at the Fields, according to a statement by the developer.

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