Wednesday, August 05, 2009

Queue Point to be ready for handover next year

Queue Point Apartments
Construction work on the first residential project targeted at mid-income segment, namely The Queue Point in Dubailand, has been resumed, following series of external challenges which had resulted in temporary halting of the project.

Al Mazaya, which had entered into a contract for the project with Mizin, a subsidiary of Al Liwan, the main developer, to purchase 40 plots, has reported that construction work has resumed on all project buildings, with 40-60 percent completion rates throughout the project. It has confirmed that Queue Point will be delivered to owners next year.

Speaking about the progress in work on Queue Point, the Managing Director and CEO of Al Mazaya, Eng. Khalid Esbaitah, said that the project has faced several challenges which affected the progress and delivery schedule.

Choosing the right contractor for the project has been the most difficult task, particularly during this time of economic crunch, as several contractors were stuck mid-way due to variance in prices of construction materials and contracts and the decline in funding, Esbaitah said.
However, Queue Point is one of those projects that had overcome the economic fluctuations, apart from being an investment, which guarantees considerable returns for investors, he pointed out.

The project has not seen recent fluctuation in prices, while correctional methods are being applied, and the demand is equal to supply, as Queue point is based on reasonable prices on installment basis.

Queue Point is an integrated residential project, meant for mid-income sector, offering luxurious lifestyle on par with other major projects. The project has drawn several residents seeking to own affordable apartments, with over 95 percent of the project units having been sold already.

Located along Al Liwan in Dubailand, Queue Point is located close to the intersection between Al Ain Road and Emirates Road in Dubai. The project will include multi-purpose residential and commercial buildings that are between five and fifteen storeys, with enchanting designs. Residential and commercial units are interspersed with green spaces, gardens and waterfalls that cater to the needs of various sections of the society.

1 comment:

marhabahome said...

It gives me assurance about UAE real estate market. Construction companies are maintaining their time deadlines.