Limitless confirms handover of 600 units at Jebel Ali this year
Wednesday, April 15, 2009
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Limitless has announced handover of 600 residential units and about 900,000 square foot of commercial space in the Dh.70bn township development of Downtown Jebel Ali.
The 600 residential units of the two buildings and the 900,000 square feet commercial space would be handed over by the end of the year on lease-basis.
The Downtown Jebel Ali plot comprises 329 plots, with about 300 of them being sold out to third party developers. The rest of the plots will be retained by the company for its own development.
The Downtown Jebel Ali project includes four blocks and there are plazas located in the center of each zone. The ground-breaking on the first plaza will be done by the end of this year. Speaking about the project, Salah Ameen, Project Director said that there are already four commercial buildings built within Downtown Jebel Ali, and 60 percent of these are either leased or occupied completely.
By the end of the year, eight buildings in Downtown Jebel Ali would be leased. The final date of completion of construction is yet to be announced, Ameen said. Limitless said that so far there are several enquiries from people interested in the residential units of the master development.
Early this month, Limitless had made 38 percent of its staff redundant, while also delaying the second phase of Arabian Canal project, owing to global financial crunch.
The 600 residential units of the two buildings and the 900,000 square feet commercial space would be handed over by the end of the year on lease-basis.
The Downtown Jebel Ali plot comprises 329 plots, with about 300 of them being sold out to third party developers. The rest of the plots will be retained by the company for its own development.
The Downtown Jebel Ali project includes four blocks and there are plazas located in the center of each zone. The ground-breaking on the first plaza will be done by the end of this year. Speaking about the project, Salah Ameen, Project Director said that there are already four commercial buildings built within Downtown Jebel Ali, and 60 percent of these are either leased or occupied completely.
By the end of the year, eight buildings in Downtown Jebel Ali would be leased. The final date of completion of construction is yet to be announced, Ameen said. Limitless said that so far there are several enquiries from people interested in the residential units of the master development.
Early this month, Limitless had made 38 percent of its staff redundant, while also delaying the second phase of Arabian Canal project, owing to global financial crunch.
Labels: Commercial Property, Limitless
5 Comments:
Good news.I presume,recession will be controlled by that time.
commented by 
dubai, 8:30 AM
dubai, 8:30 AM
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