Swiss Property to hand over inaugural Dubai project in Q1 2018
Swiss Property's Park One development in Jumeirah Village Triangle is expected to be ready for handover in Q1 2018
Dubai-headquartered real estate developer, Swiss Property, has revealed that it aims to hand over its Park One development in Q1 2018.
Located in Jumeirah Village Triangle, Park One is Swiss Property’s first project in Dubai since its inception in 2014. It is valued at around $16.3m (AED60m) and has a built-up area of 9,197m2 (99,000 square feet).
Speaking to Construction Week, Karim Adi, founder and chief executive officer of Swiss Property, said that the development comprises 56 apartment units, as well as a rooftop swimming pool and barbecue area, a gym, a children’s playroom, a grocery store, basement parking for residents, and covered outdoor parking for guests.
He said: “Park One is our first project. I wanted something that was on the affordable side, but high-quality and eco-friendly. It’s been designed, and certified, according to local green building requirements.”
The project, which is reportedly 75% sold, commenced construction in Q3 2016, with Dubai Walls Construction as the main contractor.
In addition to Park One, Swiss Property is currently developing La Reserve Residences.
A partnership with Dubai Healthcare City, the development is located within Phase 2 of the Dubai Healthcare City master plan.
The project, expected to complete by the end of 2019, won Best Residential Medium- to High-Rise Project (Future) at Cityscape Global Awards, held on 11 September, 2017.
Read the full interview with Karim Adi in issue 676 of Construction Week, which will be published on Saturday, 11 November, 2017.