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Dubai central area of Jumeirah Lake Towers recently saw a launch of the ‘last off-plan project’, according to the developer. It will be a 40-story IGO Tower, which is already being built on one of the last free land plots in the area.
The developer, Invest Group Overseas (IGO), held an official launch ceremony for the IGO Tower project, which IGO Executive Director Anas Kozbari has boldly called "the latest residential off-plan project in Dubai’s ."
The 40-storey IGO Tower will reach 195 meters in height, and the full cost of the project implementation will be between AED500 million and AED600 million (USD136-163 million), Kozbari told journalists yesterday at the official press conference on the occasion of the project launch. The building will have 449 one, two and three bedroom apartments positioned as belonging to the "affordable luxury" category. Retail space occupying more than 720 square meters will also serve the needs of residents in the tower.
According to Kozbari, IGO bought a site for construction of this complex in JLT’s Cluster K yet in May, and to date 10% of enabling and piling, as well as infrastructure construction works have already been completed, which allowed the developer to get an official permission from the Dubai Land Department to present the project on the Dubai’s real estate market.
A tender for the main construction works will be held in December, with plans to start the tower’s construction in January 2018, in order to complete the project by the last quarter of 2020.
Apartment prices for the off-plan units in IGO Tower start from AED795,000 for a one-bedroom flat, and up to AED3 million for a spacious three bedroom apartment. On-site facilities, in addition to the traditional ones, will include squash courts, a wellness complex, a gym and a spacious grand lobby at the entrance to the building.
