Jumeirah Golf Estates (JGE) awarded Sharjah-based Al Qabdah Building Contracting a Dh400m construction contract for Alandulus Apartments on Tuesday as property development in Dubai picks up ahead of Expo 2020.
The mid-market development will include 715 apartments, 95 town houses and a retail centre with the first handover expected in the third quarter of 2019.
“We have sold out both of the launched apartment towers - a positive response that is testament to the success of JGE’s approach to bringing the right type of product to the market at the right price,” said Yousuf Kazim, JGE chief executive.
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Apartments start at Dh685,000 for a one bedroom and go up to Dh2.5m for four bedroom homes, while two or three bedroom town houses range from Dh1.3m to Dh1.6m.
Flexible payment plans are available for the residential units with options for apartments including a 5 per cent downpayment upon booking, 30 per cent during construction and 70 per cent at handover. A second option allows the same downpayment with 50 per cent during construction and 50 per cent one year after the handover. Town houses have similar payment plans.
Al Qabdah will construct six apartment buildings while construction of the first two buildings, A and B, are ongoing. JGE said that the entire development is on track to be completed ahead of the Expo.
New property developments are getting into gear to meet the increase in demand expected to coincide with Expo 2020, set to take place from October 2020 to April 2021.
According to a report from Standard Chartered, the event will lift confidence in the emirate’s housing sector, supporting “long-term demand dynamics and underpinning fundamentals as the key drivers of the property market rebound”.
The Expo is expected to created up to 300,000 jobs and bring Dh140 billion in revenues from related activities, the bank said.
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The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
About RuPay
A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank
RuPay process payments between banks and merchants for purchases made with credit or debit cards
It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.
In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments
The name blends two words rupee and payment
Some advantages of the network include lower processing fees and transaction costs
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'Panga'
Directed by Ashwiny Iyer Tiwari
Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta
Rating: 3.5/5
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Zayed Sustainability Prize
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Where to buy art books in the UAE
There are a number of speciality art bookshops in the UAE.
In Dubai, The Lighthouse at Dubai Design District has a wonderfully curated selection of art and design books. Alserkal Avenue runs a pop-up shop at their A4 space, and host the art-book fair Fully Booked during Art Week in March. The Third Line, also in Alserkal Avenue, has a strong book-publishing arm and sells copies at its gallery. Kinokuniya, at Dubai Mall, has some good offerings within its broad selection, and you never know what you will find at the House of Prose in Jumeirah. Finally, all of Gulf Photo Plus’s photo books are available for sale at their show.
In Abu Dhabi, Louvre Abu Dhabi has a beautiful selection of catalogues and art books, and Magrudy’s – across the Emirates, but particularly at their NYU Abu Dhabi site – has a great selection in art, fiction and cultural theory.
In Sharjah, the Sharjah Art Museum sells catalogues and art books at its museum shop, and the Sharjah Art Foundation has a bookshop that offers reads on art, theory and cultural history.
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