After six years of delay Living Legends in Dubailand will finally welcome its first residents

20.06.2016
Delighted property owners have finally received their keys to the first phase villas and townhouses in the Living Legends project in Dubailand.

Dubai developers keep firmly adhering to the supply plan in order not to let Dubai real estate market overheat. Therefore, what may seem a troubled real estate project from the first sight, is more often “as intended,” i.e, the handover was postponed so as not to break the supply-demand balance at the housing market.

But for off-plan property owners in the Living Legends project in Dubailand the waiting period is finally over. Project’s developer, the Saudi company Tanmiyat Group has announced the delivery of 184 units, among which there are villas, townhouses and one tower residential block, surrounded by nine hole golf course.

It should be noted that this first phase handover says another word in favor of the Dubai housing market stabilization. As early as last September, the developer claimed that he would never complete the entire 15 million square foot Living Legends mega project comprising 500 villas and 12 residential towers, with all associated infrastructure ​​in the Al Barari area of Dubai.

But never say never, and now the developer is pleased to announce that Living Legends had finally been connected to Dubai’s electricity and water grid by DEWA, and that the demand for housing was at a level sufficient to fully implement all initial plans.

“The journey to this point has come with many challenges," said Mohammed Bin Odah, chief executive of Tanmiyat, but now “Tanmiyat is delighted to receive confirmation that phase one of Living Legends is fully ready for investors to receive the keys to their dream homes," he added.

According to the developer, 88 per cent of the project had already been sold, thus second stage completion is expected in late 2016, and full project’s handover is scheduled for the last quarter of 2017. The project is also stated to include a nine-hole golf course, schools, clinics, a shopping mall and a five-star hotel.

It should be noted also, that while such areas as Al Barari may seem a little deserted now, the pace and skills with which Dubai developers are capable of transforming the desert into a blooming oasis are overwhelming. That’s why far-sighted investors understand: where there was nothing yesterday, a buoyant living area with everything you need will raise tomorrow and, what is important, including excellent transport links. And Tanmiyat’s example shows that developers in Dubai can keep their promises.

So, if you are interested in Dubai real estate investment opportunities, check out our ‘heavy and thick’ Investment Portfolio to learn how to make money on your investments.

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