Tuesday, October 28, 2008

Memon Group to launch Gardenia I & II at Jumeirah Village South

An arm of the renowned international business conglomerate the Memon Group of Companies, Memon Investments, has announced the launch of Dh.150mn project at Jumeirah Village South - Gardenia I & II.

The luxurious residential development is the first property by the developer at Jumeirah Village South, followed by the previous projects at Dubai Sports City and the Dubai Silicon Oasis. The project forms a part of the ambitious plan by the developer to unveil projects worth total of Dh.2.5bn towards second half of this year.

An Escrow Account for the project is already in place, through partnership with the Commercial Bank of Dubai, and in compliance with requirements by RERA (Real Estate Regulatory Agency) and DLD (Dubai Land Department). Two payments schemes have been devised which makes the project more investor-friendly. Investors get to choose between making a 10 percent down payment and availing 80 percent finance, or making 10 percent down payment and making 80 percent payment through quarterly installments.

The project focuses on energy saving methods such as special insulation that reduces air-conditioning power consumption, mood lighting in all common areas, temperature-controlled retail arcade, recycling unit, and garbage disposal managements.

Situated within Jumeirah Village South, near the Cultural Center and renowned Central Park, Gardenia project is designed to offer a Mediterranean experience to its residents. Including a mix of residential, retail and commercial spaces, the project features about 170 residential apartments, including 68 single bedroom units, 60 studios, 22 double bedroom units, 13 loft apartments and 7 lavish townhouses and 8 retail units on the ground floor.

Spread along a 90,000 square feet plot with total built-up area of 157,265 square feet, residents have access to world-class amenities, including the two roof-top health clubs, communal swimming pools, steam, sauna, spas, party halls, outdoor terraces, Jacuzzis, basement parking, hi-speed elevators, gymnasiums, boutiques, restaurants, cafes and travel agency. All this apart from other necessary amenities such as 24 hours concierge desk, Wi-Fi technology, mood lighting, keyless entry, mood lighting, intercom system for each apartment, hi-speed internet access, and an in-house maintenance team and valet parking.

The tower is due for completion by 2010.

The Chairman of Memon Group, Abu Baker Shaikhani, said "This is our maiden project in Jumeirah Village South. We are confident about the sales prospects of the project, particularly considering factors such as the high quality of development, excellent location, easy access to Emirates Road, Al Khail road and other such major roads."

The project designer, Dimensions and Engineering Consultants (DEC), are an award-winning architectural and engineering services company, catering to a range of private and public clients across the region.

With about 8 locations across the UAE, Egypt and rest of the Gulf, the company offers value-added professional solutions. The other renowned structures in the company's portfolio include the Palm Jebel Ali, Jumeirah Lake Towers, Dubai Health Care City, Dubai International City, Falcon City of Wonders and others.

With over more than two decades of industry experience, DEC has successfully completed more than 500 projects within the region, and is carrying on with about 100 projects in hand.

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