Naseem townhouses in Mudon development sell out
Dubai Properties puts more properties on market to cater for demand
Dubai Properties, the dedicated project development company of Dubai Properties Group, on Sunday revealed that the recently launched Naseem townhouses in its Mudon development have sold out.
With starting prices of AED2.5mn ($680,000), the units offered in the initial phase have all been snapped up by investors following their launch last week.
It has prompted the developer to put additional units on the market to cater to the high demand from investors in the segment, the company said in a statement.
Mohammed Alhabbai, chief officer of Urban Planning and Infrastructure at DPG, said: "The response we have received for Naseem confirms that DP's development approach is aligned with the needs of a growing city, from both an end user and investor perspective.
"Naseem townhouses are high quality, spacious, conveniently located and reasonably priced; giving Dubai's residents the opportunity to live in a sustainable community with huge growth potential."
The company said the majority of those investing were first time homebuyers getting on the first rung of the property ladder.
The developer said in June that the 200 units launched at its Remraam development in Dubailand in May have sold out.
News of investor interest in the community comes as the developer launches over 200 more residential units in Remraam which offers shaded walkways, swimming pools, basketball and tennis courts.
The units, ranging from studios to three-bedroom apartments, will be "competitively priced" starting from AED560,000 ($152,000), the company said.