01 April 2010
AL BARARI has started handing over the first completed villas in its $6.4 billion residential project located in Dubai’s royal enclave of Nad Al Sheba, with more than 35 families now calling the botanical haven home.
Built on 14.2 million sq ft of natural and landscaped gardens and bordering protected wildlife reserves, the first-class residential sanctuary is described as the lowest density development in the Middle East with the built-up area comprising just 20 per cent of the site.
The project is being developed in two phases. Phase One comprises 287 villas while the second phase will be a mixed-use development comprising commercial, cultural and apartment living precinct.
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The villas sport four distinct architectural styles. BELOW: bin Zaal ... key focus on amenities. |
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Greenery and waterways ... a distinctive feature of Al Barari. |
“What sets the project apart from others is the beauty and quality of the luxury villas and the vast array of themed gardens and landscaped avenues,” he says.
“Creating a desirable address is as much about offering a unique design concept as it is about driving long-term asset appreciation. As a company, Al Barari strives for sustainability across ecology, investment and the community. The project has been conceived as a self-sufficient development; and as the neighbourhood grows and the retail and resort facilities open up, it will continue to flourish. This will have a positive impact on property values,” bin Zaal adds.
Commenting about the company’s performance, he says: “Like every property development company in the world, we have not been immune to the economic downturn. However, the market value of our properties has largely remained unchanged, because of our considered approach to value creation.
“Being a zero-debt company means we are not financially burdened. Rather, we have been able to take advantage of the slowdown in the construction sector to expedite the project’s progress, and even to fast-track some elements, such as the community amenities.”
“We have invested heavily in developing the gardens and amenities to optimise the Al Barari lifestyle experience for our early residents. This is really important because we are selling much more than bricks and mortar. Al Barari introduces a new way of life by bringing people together, giving back family time. Although our additional amenities are driving up costs, we have made a conscious decision not to pass these onto investors at this stage,” bin Zaal concludes.