Jumeirah Golf Estates launches mid-market apartments, townhouses

By admin Tuesday, 12 May 2015 4:13 PM

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The host venue to the European Tour’s DP World Tour Championship, JGE features premium villas and mansions set around the Earth and Fire golf courses.

Dubai — Developers in Dubai are continuing to switch gears to affordable housing. The latest firm to jump on the affordability bandwagon is Jumeirah Golf Estates (JGE), which has launched AlAndalus, a collection of mid-market townhouses, apartments and a community centre.

The host venue to the European Tour’s DP World Tour Championship, JGE features premium villas and mansions set around the Earth and Fire golf courses. AlAndalus, meanwhile, has been positioned as a mid-market offering, comprising 550 one-, two-, three- and four-bedroom apartments priced at around Dh850 per square foot. Apartments come at a price tag of Dh597,000 and above.

“We want to attract young individuals and families who earn between Dh30,000 to Dh40,000 a month,” says Yousuf Kazim, CEO of Jumeirah Golf Estates.

The developer is adopting a phased approach, with the apartments and community centre set to be delivered in the second quarter of 2018. Apartment sales will be launched in the next few weeks and construction tenders will be awarded before Cityscape Global this year.

“The buildings vary in size from G+5, G+9 and G+11. They will have side views of the Fire and Earth golf courses. AlAndalus will be situated at the entrance of JGE for easy accessibility,” says Kazim.

The community centre has been conceived as a hub for the entire master community. It will add 34,000sqm of retail while a hotel with 120 to 130 keys is also part of the mix. Residents can also use facilities in the clubhouse such as a swimming pool, a delicatessen, a restaurant and a tennis academy. A gym, spa and banqueting facilities are also on the cards. A European Tour Performance Institute (ETPI) in the community imparts golf training to both professionals and amateurs. Two championship golf courses are also at hand in case residents need to hone their teeing or putting skills.

With Jumeirah Golf Estates’ profit surging 68 per cent in 2014 to Dh430 million, the developer claims it is well-capitalised to fund construction of AlAndalus units. “We are looking at financing options. We’ve never had any loans from banks and this is the first time we are looking to tap into it. We’re in a good position financially,” the CEO affirms.

AlAndalus is the 15th community being developed in the master community at an approximate price of Dh700 to Dh800 million. Spanning an expansive 370 hectares, phase A also includes other communities such as Lime Tree Valley, Sanctuary Falls, Whispering Pines and Flame Tree Ridge, among others. Around 700 units out of 1,100 have been handed over in phase A.

While the majority of land parcel has been developed in phase A, the master developer claims there is market interest to develop specific concepts.

“We will be announcing developments in future phases in due course, particularly in view of the Metro extensions,” Kazim informs.

The CEO claims there are checks on sub-developers to ensure timely delivery of units. “We have strict timelines identified for individual customers and sub-developers. We want to make sure the whole development comes online in the shortest possible time to avoid inconvenience to people living in the communities.”