Dubai Properties launches two-tower project

Developer Dubai Properties has announced the launch of a new two-tower project in the emirate, close to its newest mega development Marasi Business Bay.

Bellevue Towers will offer 300 residential units across 23 residential floors, ranging from one-, two-, and three-bedroom apartments to three-bedroom penthouses and lofts.

Amenities include a gymnasium, a pool, a playground, lawn and a social terrace.

The two main lobbies will be set on a common podium and will include retail stores on the ground floor.

Located in Downtown Dubai, the towers will also be situated close to other retail, hospitality, leisure and dining options.

The project is scheduled for completion in 2019, DP said.

This is the second project launch from DP this month. Last week, DP’s parent company Dubai Holding announced the mega Dhs 1bn Marasi Business Bay project.

Read more here: Water homes part of Dhs 1bn mega project launched in Dubai

To be developed by DP, the waterfront development will extend 12 kilometres across the Dubai Water Canal and offer a mix of residential, retail and leisure projects.

The development will feature around 150 to 200 water homes, 100 retail units including floating restaurants and cafes, five palm tree-lined marinas that will have 1,250 berthing spaces, 250,000 sqm of open space and 60,000sqm of park area.

Dubai has seen an uptick in new project launches in recent months as experts claim the emirate’s property market may have bottomed out.

Residential property prices in Dubai remained stable during the month of April – the first time in almost two years – the monthly ValuStrat Price Index found.

“Slight price recoveries in a small number of districts add to possible signs of a bottoming-out in monthly values for apartments and villas,” the report said.

Read more here: No drop in Dubai property prices in April