Saturday, September 05, 2009

Work on Dubai Lifestyle City makes steady progress

Although other projects in Dubailand have met with delays, Dubai Lifestyle City is making good progress, given its comparatively small and manageable size, points out Rahman.

The pipe work is currently being done the water and electricity sub-stations and roads are nearing completion. The residential portion of the development will be named 'JW Marriott Residences', due to their partnership with Marriott.

Mariott will be installing sprinklers in the residences, although in the opinion of Dubai Municipality it is not a necessity for villas or apartments, said Raza Siddiqui, Executive Director of the company.

There will be 68 villas with five different types ranging from 10,000 square feet to 20,000 square feet built-up area.

Each villa theme is given names inline with the Tuscan theme of the project. On the whole, there will be 120 regular, duplex and penthouse apartments, the construction contract, of which, has already been handed over to Saleh Constructions.

Spreading across 4million square feet of land, the project is developed by the ETA Star Group. Construction will begin on the JW Marriott and IMG Academies this month, with the entire project due for completion towards end of 2012.

Despite the global economic turmoil having had a considerable impact on Dubai property sector, it includes easing of property prices and rents.

Rahman revealed that about 50 percent of residential units have been sold till date. The average price of a villa is between Dh.20 to Dh.40million, while that for an apartment is Dh.5million to Dh.8million.

Apart from hotels and residences, the city will include IMG Academies including tennis academy, golf academy, seven swimming pools, an Olympic sized pool, dive pool, leisure pool and separate pool for women and children.

The place also includes office space, small retail center, a large greenhouse, and auditorium, said Rahman.

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