- UAE developer unveils tower complex in Jumeirah Lakes Towers Dubai, featuring over 2,600 residential apartments as well as 150,000 sqft of retail space and a hotel
- Project to be ready in three years
UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has revealed plans for its first mixed-use development in Jumeirah Lakes Towers (JLT), in Dubai, with the launch of SE7EN CITY JLT.
The project, valued at AED 1.3 billion, consisting of 2,635 units, is already 15% complete and due for completion within 36 months. The development is spread over 3.5 million square feet and situated within Cluster Z in DMCC, opposite the Montgomery and Emirates’ golf courses and the Emirates Hills community and its residential element consists of studio, one, two and three-bedroom apartments as well as a limited number of duplex apartments.
“SE7EN CITY JLT is designed to provide everything a resident might possibly want, with retail, entertainment, food and beverage outlets, a nursery, gym and a health club. However, when residents do venture outside, they’ll still be able to enjoy the urban vibe, with the excitement and fast-paced, hustle and bustle of city life, right on their doorstep.”
“In complete contrast, residents will also have the best of both worlds, with stunning panoramic views of Jumeirah Islands, the Montgomerie and Emirates Golf Courses, the Palm Jumeirah, Dubai Marina and Jumeirah Beach Residences,” said Abdulla Bin Sulayem, CEO, Seven Tides.
The striking design sits upon a common podium, which plays host to promenade restaurants overlooking a lake. The tower also features a gym, health club, infinity pool, children’s pool, a roof garden, cafes, other dining options, a large retail offering, covering 150,000 sqft over three floors, which will include a hypermarket, as well as car parking spaces totalling 2,699, with an additional 620 spaces dedicated to retail parking, including valet.
All apartments come complete with high-end fittings and finishes, synonymous with the SE7EN brand and also feature built-in wardrobes and branded white goods.
Studio apartments start from AED 354,000, ranging in size from 384sqft to 416sqft, while one-bedroom apartments start at AED 683,000 and range in size from a minimum of 739sqft to a maximum of 800sqft. Prices of two-bedroom apartments start at AED 992,000 and the size is 1,073sqft. Finally, the entry price for three-bedroom apartments starts at AED 1.40 million and vary in size from 1,516sqft to 1,521sqft.
“SE7EN CITY JLT also has a very attractive easy payment option consisting of a 5% deposit, followed by payments equal to 6% of the cost price, to be paid every subsequent quarter, with a completion date of Q3 2021. We estimate that studios should yield 12% per annum,” added Bin Sulayem.
Surveys in the US suggest that over 60% of young professionals now prefer to live in diverse-use communities. The most popular dwellings are no longer single-family houses, but high-rise multiplexes. In line with those findings, JLT has become a magnet for young professionals, enjoying an urban lifestyle – working, living and experiencing the urban environment with offices, bars and restaurants only minutes away either on foot or by metro.
“This development also highlights the flexibility of the SE7EN brand, it works equally well as a leisure resort on the Palm Jumeirah, as it does within an urban setting in JLT. And investors can expect the same level of quality décor and finish, presented in a contemporary and techno-trendy fashion and with the same compelling value proposition,” said Bin Sulayem.
Seven Tides has built an enviable international reputation for delivering high quality luxury hospitality and residential developments, with a track record that includes Anantara, DUKES, Ibn Battuta Gate and an upcoming project The World Islands, where Seven Tides is creating an exclusive resort of 60 one and two-bedroom villas.