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Site visit: Green Community West – Phase III Dubai

An extension of Dubai Investments Park’s Green Community, Green Community West – Phase III looks set to offer an oasis of luxury in the UAE desert

A culster of the 210 townhouses  that are being developed.
A culster of the 210 townhouses that are being developed.

Dubai Investments Park (DIP) is one of the up-and-coming neighbourhoods in Dubai, driven by its proximity to the Expo 2020 site, and the demand for high-quality, luxury living.  

The $26m (AED97m) Green Community West DIP – Phase III is the third phase of the massive residential community currently being finalised at the park by UAE-based developer, Properties Investment (PI), a subsidiary of Dubai Investments, which is currently developing the Green Community at DIP.

The project comprises a total of 210 townhouses, including 122 four-bedroom and 88 three-bedroom townhouses, due to complete handover by the end of 2017.

The 79 townhouse are scheduled to be handed over by the end of April, and 97 units are due to be handed over by the end of August. The remaining 54, including the apartments, are due to be completed by the end of the year. Phase III will be completed in three sections, with the expected completion date of the project’s retail offering scheduled for the third quarter of 2017.

“Our clients, and the high demand for these units, are the reasons we are currently pushing through to handover by
the end of the year,” says Dr Rashid Abdulla Al Hajj, general manager of PI.

Dewan Architects and Engineers is the lead consultant, and Shapoorji Pallonji Mideast LLC is the main contractor for the project, which covers 67ha of residential, leisure, retail, and commercial properties. In total, the saleable area of the development will be 91,000m2.

The enabling package, including earthworks, site levelling, and fencing was executed by contractor, Wade Adams.

Along with the residential component, the community will offer retail units, recreational centres, swimming pools, a squash court, and landscaped areas, on a total built-up area of 94,000m2.

PI is also constructing a commercial building in the heart of the community, containing three retail shops – the operators of which have not yet been announced – and two recreational centres.

“This community is different from any other in Dubai at the moment,” says Al Hajj. “Traffic is minimal, the area is green in all of its aspects, and it is a great
family environment.

“We give customers a sense of comfort and that is the aim of this development.”

And it is clear that construction work is now at its peak, with final fix works in progress in several of the clusters throughout the community, and the kerb stone being laid on two of the project’s major internal roads.

Internal finishes, including doors, shutters, kitchen fittings, and built-in closets, are also in progress in several of the townhouses and apartments in the development.

In January, PI unveiled a show townhouse to give prospective customers a glimpse of what to expect when investing in the leasehold apartments, fully fitted with furniture, kitchen appliances, and built-in wardrobes.  

The developer has already completed Green Community Phases 1 and 2, and has decided to develop Phase 3 due to the success of the previous communities, which have experienced high demand.

The company focussed on providing good-quality materials, despite high building costs, according to Al Hajj, as well as on providing quality finishes in order to create the luxury-branded community. The developer sees this as the driving force behind Green Community West – Phase III’s popularity. It is currently 30% sold, with another 45% booked.

But Al Hajj admits that there is a problem with liquidity in the regional real estate market, with customer sentiment lower than it was a couple of years ago.

“We are giving people more options because of the tightening of the market by providing flexible payment plans,”
he explains.

In fact, Al Hajj says that this was one of the greatest challenges in building the latest section of the overall development.

“Because the market is slow, consumer sentiment [is low], and getting more customers on board was more difficult than in previous years,” he says. “But my experience in the market is that people are still buying and spending – they are just more cautious about where they are spending, and with whom.”

Al Hajj says that, despite the turbulent market, he still believes that the luxury segment remains attractive to investors. He adds that he is not of the opinion that Dubai’s property market is oversupplied, and he is confident that high-quality developments will continue to witness strong demand among investors in the market.

“Though people are more cautious, now is the best time to invest and buy property, as the market will continue to improve in the next four years,”
he continues.

Al Hajj also explains that PI is offering customers payment plans that span from two to eight years of in-house financing from the developer, circumventing the need for a mortgage provider.

Collectively, the Green Community has been under development for more than a decade, with the first phase completed in 2004 and the second in 2011. This third phase represents a natural extension to the existing areas.

And the drive to further develop the community, through retail and commercial options, comes with the project’s close proximity to the Expo 2020 site and Al Maktoum International Airport.

“This area is part of a growing movement that will see even greater demand in the years leading up to Expo 2020,” says Al Hajj. Phase III will also be connected to the Route 2020 Metro link, creating ease of access in the area around Dubai South and to the rest of the city.

Though Al Hajj does not reveal whether there is a fourth phase on the horizon, Khaled bin Kalban, chairman of DI, stated in reports earlier this year that “at least three residential buildings, and even a possible fourth phase” might come online for the developer this year.

As for other projects, the company is working on a number of developments near to the Dubai South area, including the Green Community – Dubai Investments Park, Courtyard by Marriott in DIP, and The Market at DIP.

“We have three new projects coming online this year, with more retail and entertainment options coming soon,” Al Hajj elaborates.

One of these projects, The Market at DIP – a shopping centre within Green Community – will add 200 retail units that will be developed across nearly 6,000m2 as part of the expansion. These will include new food courts, cinemas, and parking, to complement the existing attractions in the area.

In March, PI also revealed that it is planning to develop two new residential buildings within DIP, which will cater to the middle-tier investor segment.

The G+4 structures will boast a total of more than 180 residential units, and retail components. “Dubai never stops developing,” Al Hajj says. “And because of that, we will never stop developing high-quality projects.”

 

 

 

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