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Indians top buyers of Seven Tides' $272m Se7en City JLT homes

The 32.5ha project in Dubai, featuring 2,617 apartments and 78 hotel rooms, is due for completion by Q4 2021

Seven Tides' Se7en City homes in JLT, Dubai.
fmME
Seven Tides' Se7en City homes in JLT, Dubai.

Dubai-based luxury developer Seven Tides said 37% of its Se7en City project in Dubai’s Jumeirah Lake Towers (JLT) neighbourhood had been bought by Indian, British, and Emirati investors, with Phase 1 of the 32.5ha project being sold out in a week after it was launched in May 2018.

Construction Week’s sister title fm Middle East reported that to date, 652 units had been purchased in the $272.3m (AED1bn) project that is slated for completion by Q4 2021. 

Seven Tides said investments from Indians had purchased 118 units in the project, with Emirati and UK investors respectively buying 65 and 58 homes. 

Other investments came from investors in Pakistan (6%), Saudi Arabia (5%), and Russia (4%), with overall investments from 16 countries including Canada, Egypt, Romania, France, China, Lebanon, the US, Jordan, Ireland, and Ukraine.

The Se7en City project comprises 2,744 units, of which 2,617 have been divided between studio, and one-, two-, and three-bedroom apartments, with the remaining 78 to function as hotel rooms.  

Commenting on investor interest in the scheme, chief executive officer of Seven Tides, Abdulla Bin Sulayem, said: “It is very interesting that investors from so many different countries have found Se7en City JLT and Dubai as a destination.”

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Construction Week - Issue 749
Sep 15, 2019