Town houses at AED2.5m

25.08.2014
Town houses at the Naseem development in Dubailand have been sold out with most investors being first-time homebuyers, according to Dubai Properties. Dubai Properties, the dedicated project development company of Dubai Properties Group, said that the recently launched Naseem townhouses in its Mudon development have sold out.
With starting prices of AED2.5mn ($680,000), the units offered in the initial phase have all been snapped up by investors following their launch last week, reported Construction Week Online.
Mohammed Alhabbai, chief officer of Urban Planning and Infrastructure at DPG, said: "The response we have received for Naseem confirms that DP's development approach is aligned with the needs of a growing city, from both an end user and investor perspective."
"Naseem townhouses are high quality, spacious, conveniently located and reasonably priced; giving Dubai's residents the opportunity to live in a sustainable community with huge growth potential."
The company said the majority of those investing were first time homebuyers getting on the first rung of the property ladder.
News of investor interest in the community comes as the developer launches over 200 more residential units in Remraam which offers shaded walkways, swimming pools, basketball and tennis courts. The units, ranging from studios to three-bedroom apartments, will be "competitively priced" starting from AED560,000 ($152,000), the company said.

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