Dubai Properties is to launch on Saturday the second phase of its Arabella community of townhouses within the Mudon development bordering Emirates Road.
Masood Al Awar, chief commercial officer at Dubai Properties, told The National that the developer will release 200 two-, three-, four- and five-bedroom townhouses on Saturday, as well as presenting the project at the International Property Show, which takes place at Dubai World Trade Centre from Monday to Wednesday next week.
Dubai Properties launched the first phase of Arabella in May 2015 and reported that all of the homes on offer sold out on its launch day. Phase one contains 500 units and is currently being built by Trojan General Contracting.
The first phase consisted of three- and four-bed properties, but phase two will also have two-bed and five-bed units.
“We are always trying to fill market requirements and customer needs, we have known that these will be required and we have designed a better mix for the people because we want to attract different segments and different categories,” said Mr Al Awar, who joined Dubai Properties in December after stepping down from his previous role as the chief executive of Tasweek Real Estate Development & Marketing.
The two-bed units at Arabella start in price at Dh1.3 million, three-beds at Dh1.6m, four-beds at Dh2.2m and five-beds at Dh2.6m. These will be close to site facilities such as Mudon Central Park featuring jogging and cycling trails, sports courts and exercise stations and some outdoor cafes, play areas and shops.
Mr Al Awar expects that a contractor for the project will be appointed in 6-8 months once the scheme’s details have been finalised and tenders have been drawn up, and the properties to be delivered by the end of 2018. The units are being offered on a payment plan, with a 10 per cent deposit required and a further 30 per cent payable during construction. The remaining 60 per cent is payable on handover.
When asked how it compares with the nearby Nshama Town Square scheme, which faces Mudon on Emirates Road, where the first phase of townhouses saw three-bed units priced from Dh1m and four-beds from Dh1.2m, Mr Al Awar said that Dubai Properties had “done enough benchmarking to make sure that our offering is very competitive”.
“Different markets have different segments. I think Arabella 1 was very successful. Built on that, and on the demand we have tested from the market, we are launching this product.
“We understand very clearly that this product is well positioned in the market and it will be absorbed, because we are offering value.”
Richard Paul, a director of residential valuations at Cluttons, told journalists at an event on Wednesday that the track record of a developer can play a major role in the pricing of schemes, with those who have managed to bed down established communities such as Emaar Properties and Dubai Properties able to charge a premium.
“If they’re brand new to the market, they have to overdeliver everything and really put out a shining example of what they can do. And not cut corners.”
He said that the maintenance of communities is something that is “hugely important to buyers”.
“The speculators have left. If we’re talking about owner-occupiers they’re going to be here for five or ten years and they will want to know what’s this place going to look like in five or ten years.”
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