Dubai's 220-home Binghatti Crystals records structural completion
Muhammad BinGhatti said the development reiterates the investment returns of affordable properties versus luxury units "held as trophy properties"
Structural work has been completed for Dubai's Binghatti Crystals project.
Finishing, façade, and installation works are currently under way for the Dubai Silicon Oasis project, backed by Binghatti Developers.
The development company said the project was on track for scheduled completion. An official from Binghatti Developers told Construction Week that completion is scheduled for the end of August 2018.
The 12-storey development comprises 219 units, which includes 159 studios, eight one-bedroom, and 48 two-bedroom apartments.
Four bedroom duplexes are also being developed within the project, in addition to a swimming pool, a gymnasium, and parking facilities.
Muhammad BinGhatti, chief executive officer and head of architecture at Binghatti Developers, said the development is part of the company's focus to provide affordable homes.
BinGhatti said the scheme is "reflective of the reality that affordable properties provide better investment returns than luxury properties, which are often held as trophy properties".
He added: "Binghatti Crystals is located in Dubai Silicon Oasis, which is an area that has proven to be excellent for both end-users and investors seeking long-term rental returns.
"The centrally located community [...] provides investors with consistent streams of prospective tenants."