Seven Tides's $350m property in Dubai's JLT 15% complete
UAE-based property developer Seven Tides revealed that’s its $350m (AED1.3bn) residential tower in Dubai’s Jumeirah Lake Towers is 15% complete
UAE-based property developer Seven Tides revealed that’s its $350m (AED1.3bn) residential tower in Dubai’s Jumeirah Lake Towers is 15% complete, the company’s CEO said on Thursday.
The 2,635-unit building, dubbed Seven City JLT, will take up an entire cluster and include 150,000 square feet of retail space, Seven Tides CEO Abdullah bin Sulayem told Arabian Business.
The project will also include one-, two- and three-bedroom units and a rooftop pool as well as five floors of podium and 27 floors of residential units.
There will be two basement parking areas dedicated to the retail portion of the project, which is due for completion within 36 months, by Q3 2021.
Bin Sulayem added that the project will overlook the Emirates and Montgomerie golf clubs, as well as views of the Palm Jumeirah, the Ain Dubai observation wheel, the lakes at JLT and Jumeirah Islands.
“Today you need to think out of the box. There are usually three towers in each cluster, but this [new] design reduces the time of construction,” he said.
FACE TO FACE: Abdulla Bin Sulayem, Seven Tides
“That was our main purpose. [The new design] reduces our cost, and reduces the time of construction, which means that our potential buyers will receive their units faster and they will become more attractive.”
Studio apartments start from $96,400 (AED354,000), ranging in size from 384sqft to 416sqft, while one-bedroom apartments start at $186,000 (AED 683,000) and range in size from a minimum of 739sqft to a maximum of 800sqft.
Prices of two-bedroom apartments start at $270,000 (AED992,000) and the size is 1,073sqft. The entry price for three-bedroom apartments starts at $380,000 (AED1.40m) and vary in size from 1,516sqft to 1,521sqft.
“Customers will like this idea, because it’s self-contained,” Sulayem said. “The majority of our end users, I believe, will be expats, and they’ll like to have their residential unit within a community [in which] they don’t need to go out in a car.”