Articles
Companies

Home / NEWS / Lootah Real Estate begins work on residential project in Dubai

Lootah Real Estate begins work on residential project in Dubai

by Jumana Abdel-Razzaq on Dec 6, 2017


Lootah Real Estate Development (LRED)'s portfolio primarily comprises residential developments in Dubai, including The Waves [pictured].
Lootah Real Estate Development (LRED)'s portfolio primarily comprises residential developments in Dubai, including The Waves [pictured].

RELATED ARTICLES: LRED invites master plan bids for 11ha Dubai South homes | Dubai's Lootah Real Estate to begin Ajman resort works in 2018 | Lootah Real Estate-Dubai South JV to build 11ha homes

Dubai-based developer Lootah Real Estate Development (LRED) has broken ground on The Gardens, a new residential property in Dubai’s Jumeirah Village Circle.

The new development will consist of two residential buildings comprising a total of 217 units ranging from studios to one bedroom and loft apartments.

The Gardens will also feature swimming pools, gymnasiums with steam room and sauna, as well as covered parking spaces.

READ: Dubai's Lootah Real Estate to begin Ajman resort works in 2018

The project will have a built up area of 22,668m2 and is set to be delivered in the third quarter of 2019.

Saleh Abdullah Lootah, executive director of Lootah Real Estate Development, said: “Today marks another milestone as we introduce the latest addition to our growing residential project portfolio.

"Breaking ground on The Gardens project is the beginning of creating yet another modern community with contemporary design and premium quality without missing on affordability.

“We believe that the Dubai property market will only grow and mature in the years to come boosting business activity in the emirate’s real estate sector."

READ: Lootah Real Estate-Dubai South JV to build 11ha homes

Last month, the developer signed an agreement with Ajman Properties Corporation (Aqaar) to develop Masfout Heights Resort in the emirate.

The deal marks LRED’s first expansion into other emirates, as the company’s portfolio primarily comprises residential developments in Dubai. Phase 1 of Masfout Heights Resort is set for completion in 2021.

In August, LRED invited bids to develop the master plan of a residential project it will implement in Dubai South.

Carried out through a joint venture (JV) agreement with Dubai South, the 11ha development will be situated within the area’s Residential District, which is expected to comprise 10,000 homes across villa, townhouse, and apartment units by 2020, housing up to 35,000 residents.

 

 



Advertisement




Articles
Companies