Gulf Construction Online

Real Estate

News In Brief

01 October 2021

Eagle Hills starts delivery of 172-unit luxury complex in Fujairah

Eagle Hills, a UAE-based private real estate investment and development company, in partnership with The Address Hotels + Resorts, has begun the handover of its luxury complex, Address Residences Fujairah.

It comprises four residential buildings including 172 units, five beach villas and five garden villas, all furnished, serviced and offering the Address Hotels + Resort’s signature hospitality. Apartments range from two to four bedrooms with areas from 1,080 to 3,500 sq ft located in close proximity to the beach and the waterfront promenade.

Located in Sharm, south of Al Aqah beach, the property offers uninterrupted sea views, with a 500-m promenade stretching across the coastline. The development overlooks the magnificent Arabian Sea, with ground floor apartments enjoying their own private garden. Spread over a 573,000-sq-ft area, the development offers homeowners access to the amenities at the adjacent five-star Address Beach Resort Fujairah, offering residents access to the spa and wellness centre, beauty salon, fitness centre boasting state-of-the-art equipment and an infinity pool.

SOL Properties unveils 275-unit Dubai residential project

SOL Properties, the real estate development arm of Dubai-based Bhatia Group, has announced the launch of SOL Serene, a key residential development in the Jumeirah Village Circle (JVC) community.

SOL Serene is the real estate company’s latest cityscape – featuring 275 apartments with a mix of studios, one- and two-bedroom units – marking its 20th residential building across the UAE.

The property takes SOL Properties’ total residential portfolio up to 2,196 units, with further expansion eyed in the coming months.

On the new addition, SOL Properties CEO Ajay Bhatia says: “Our residential portfolio comprises properties where we recreate experiences as we envision it, and SOL Serene is one we are exceptionally proud to launch into the market. Having previously completed seven other projects in Jumeirah Village Circle, we know what a strategic and attractive location it is. SOL Serene will be the ideal home for start-up families and working professionals, who can come home to a space they can call their own and who will appreciate its value for money, versatile units, security and premium amenities,” he notes.

Dubai Asset Management launches Al Khail Gate Muhra

Dubai Asset Management, the owner and manager of one of the city’s largest portfolios of residential communities, has announced the launch of its new residential development, Al Khail Gate Muhra, in the Al Quoz area of Dubai, on the rental market.

The new development is a major expansion of Al Khail Gate, a self-contained, centrally located master community for families and professionals in Al Quoz.

Al Khail Gate Muhra features three five-storey apartment buildings, comprising contemporary studios, one- and two-bedroom apartments.

The studio units can be rented for AED33,000 ($8,983) per year, one-bedroom apartments are available for AED45,000, and two-bedroom units cost AED63,000.

Dubai Asset Management says some of the north-facing apartments offer views of Burj Khalifa and the Business Bay skyline.

Residents will have access to the wide range of amenities at Al Khail Gate, including outdoor and indoor gyms, sports courts, a running track, community park, two supermarkets, restaurants, retail outlets, a mosque, and a year-round calendar of events that promote community engagement, it adds.

Asteco completes fire-rated cladding at Palm Jumeirah project

Asteco Property Management has announced that new UAE Civil Defence-approved fire-rated cladding panels have been installed across the seven-building mixed-use integrated community project – Oceana Palm Jumeirah in Dubai. The new cladding project was funded by the community’s Owners Association Reserve Fund and resulted in significant cost savings that reflected directly on annual service charges.

Oceana Residences consists of seven towers – Adriatic, Pacific, Caribbean and Atlantic on the north side of the trunk of Palm Jumeirah, and Southern, Baltic and Aegean on the east side of the enclave. Approximately 90 per cent of the community is occupied and 100 per cent of the units have been sold.

The replacement project was first initiated after the Adriatic tower got damaged in a blaze five years back, and leading to a massive hike in community insurance fees which skyrocket by over 330 per cent, according to Asteco. By proactively replacing the cladding in the remaining six buildings, and part of the seventh building, insurance premium was reduced year on year until it reached the pre-2016-2017 rate, increasing the community’s value and enhancing safety, it adds.