(MENAFN- Arab Times) Al Mazaya Holding Company has finalised the sale of The Villa residential project in Dubai land. The homes, which together cover more than 88 thousand square feet, will be delivered to new owners in the second and third quarter of the year. Al Mazaya Holding Company worked closely with master developer Dubai Properties Company, a Dubai Holding subsidiary, during the construction process of the homes to ensure high standards of building excellence
In total, The Villa spans some 29m square feet and comprises more than 700 luxury homes. Al Mazaya Holding Company was the single largest property owner during the development stages. Al Mazaya Holding Company Chief Executive Officer Engineer Ibrahim Al Saqabi said: "We are very pleased to have sold our last remaining properties at the Villa in Dubai land, one of Dubai's most sought after residential spaces.
"We have seen strong investor appetite for The Villa project, an indication of renewed confidence in the Dubai real estate story that is good news for both buyers and sellers. "Al Mazaya Holding Company is proud of its tradition of investing in innovative and ambitious real estate projects. The Villa is one of the most important projects we have been involved in because of the level of investment of all equity partners
"We look forward to working on all of our other real estate projects in Dubai over the coming months and years." The Villa, which was inspired by pictures of rural Spanish residential developments, offers owners plentiful green spaces, play areas for children and shaded pedestrian walkways.
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