Saturday, April 28, 2007

Golf side Victory Heights villas released

The final release of the premium villas in the Victory Heights golfing and residential community should start in August. The developer is waiting for the completion of the five ‘show’ villas on site for launching the next Phase.

Secondary market activity for Victory Heights has been good which we believe is healthy for the market. In some villas, the owners want to hold on and it suits us just fine. We are not too keen in going for the investor-buyers, always prefer end-users as we pride in building homes, not houses.”

The official confirmed that their prices will be dictated purely by ‘current trends’, “As a developer, we do not see the need to affix a substantial premium even though the project has been extremely well received in the earlier launch phases,” Abdulla adds.

“Victory Heights is now a concept that can be franchised. It could even be developed by us in other locations.” The Victory Heights development will have a final cost of Dh2.7 billion which reflects the quality of the development.

Frayland was recently awarded the contract to build 57 villas at the development. Negotiations are on with others for other key contract awards. Wade Adams and Septech are some of the other names closely associated with the development. Victory Heights covers 25 million square feet within the wider Dubai Sport City.

[Source - Property Weeky]

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