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Dubai homes in JLT record $80m sales in one week

Seven Tides' 32.5ha development, Se7en City JLT, recorded these sales, and is on track to complete in 36 months

Se7en City JLT, a Dubai project by Seven Tides, is on track to open in Q3 2021.
Se7en City JLT, a Dubai project by Seven Tides, is on track to open in Q3 2021.

A Dubai project has recorded sales of $82m (AED302m) in one week. 

Se7en City JLT, a mixed-use development in Dubai's Jumeirah Lakes Towers (JLT), posted the record sales. 

Of the 32.5ha project's 2,635 units, 661 apartments were recently sold in week-long transactions. 

The sales, worth $82m (AED302m), covered Phase 1 of the project.

Seven Tides said it would shortly unveil Phase 2 of the development, following Phase 1's successful performance. 

Studios were the most popular unit type for buyers, with 572 studio apartments sold for a combined value of $62m (AED227m), followed by one- and two-bedroom units. 

Indian investors have purchased 17% of the units so far, followed by UAE (7%) and Pakistan (7%) nationals.  

The $354m (AED1.3bn) development by Seven Tides is due to complete in 36 months (Q3 2021). 

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Construction Week - Issue 745
Jun 30, 2019