Sunday, May 06, 2007

Nakheel's Discovery Gardens nearing completion

Occupying 26 million square feet beside Ibn Battuta Mall, Discovery Gardens will attain complete build-out in 2008. The first of the themed communities, Zen, will start handover early next year.

"The handover process will be on-going stretching over a year," says Fahad Yousuf Al Haidan, General Manager — Discovery Gardens.

The development has 291 buildings all of which has been sold out. It will add more than 26,000 multi-sized apartments with a focus on establishing a 'family-orientated community'.

The majority of units will be studio and one-beds, with a selection of two-beds as well. Landscaping will be key to the development.Discovery Gardens will reveal six communities — Zen, Mediterranean, Contemporary, Cactus, Moghul and Mesoamerican courtyard gardens.

Total investment on the project is Dh12 billion. Nakheel had opted for a quick sales cycle to sell the full buildings.

"We wanted to integrate the selling process and give the investors a chance," the official says.

"Discovery Gardens will promise comfortable living for people working in Al Quoz and Jebel Ali. The industrial zones are close to the upscale area of Dubai, but remember there are umpteen workers looking for mid-range housing in that area alone. Discovery Gardens is intended for medium to high income families."

The internal department within Nakheel in conjunction with the Land Department is registering sales as an on-going process.

[Source - Property Weekly]

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