Tuesday, March 25, 2008

DWC Residential City Phase 2 sales on March 25th, 26th

The Phase II plots of Dubai World Central's 715-hectare Residential City will be launched on sale on 25th and 26th March at Hotel Grand Hyatt, Dubai.

Dubai residential city Phase 2
The plots are expected to be sold out, generating a sale of Dh.6bn, according to Khalid Bin Harib, the CEO, Dubai World Central.

The estimates are based on the sales registration that took place at the International Property Show last month for 284 plots that range from 2000 to 12000 square meters in size.

The Phase two covers a total of 140 hectares, and is the largest among all the five phases of the DWC Residential City. The Residential City will eventually house 53,000 people across 18,000 units.

Land grading work for the phase 2 is complete, with 19 plots being allocated for mixed-use development, while nine plots are reserved for commercial and public amenities such as hotels, malls, schools, mosques, health centers, parks and fuel stations.

The Dubai World Central proposition of being close to workplace in an affordable housing is drawing considerable interest from potential buyers, reveals Khalid.

The land registrations during the past couple of months have grown beyond expectations with major regional property developers having expressed interest in providing affordable housing.
The Phase one sales was complete with 24 hours of launch, due to huge developer demand at the DWC Residential City.

The Residential City will have single to four bedroom apartments of various sizes, in five to ten storey buildings. The unique aspect of DWC Residential City being served by its own light rail, linked to the Dubai Metro, will provide easier transportation within the city and outwards to the existing Dubai City Center.

The Dubai World Center is a 140 square kilometer urban aviation community centered around the world's largest international airport, located 40 kilometers from the existing Dubai International Airport. The project is twice the size of Hong Kong Island.

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