(MENAFN - Arab News) Lootah real estate development has launched its shamal community development at jumeirah village circle in a press conference held at the fairmont hotel in dubai
With an overall project cost of aed350 million shamal community spans over 147000 sq ft. the new development consists of the shamal terraces a cluster of three bedroom villas with optional swimming pools; and the shamal residences a mixture of high-end studio apartments and one bedroom lofts. 'we are witnessing a cautious but massive investor interest and high demand for the quality lifestyle in our shamal community" said saleh abdullah lootah executive director of lootah real estate development. 'our tie-up with specialized partners is aimed at creating high quality and competitive residential offers to our valuable investors and occupants." lootah added. shamal community is located on the intersection of two major roads in dubai —– sheikh mohammed bin zayedroad and al khail road and in close proximity to jumeirah park
The enabling tender has already been issued and the main construction package will be issued in may this year. the shamal terraces villa community is estimated to be completed within the next 15 months and the shamal residences a townhouse community in 20 months. the jumeirah village circle is a community development popular among investors due to its green landscaping central position in the downtown and a family-friendly environment.