Dubai Properties says Arabella Townhouses sell out on launch day

Dubai Properties announced that it has sold out all the units of its Arabella Townhouses project that were launched on sale on Friday, May 15, in the emirate.

People queued up for the launch, a statement said, with sales conducted on a first-come first-serve basis. The townhouses are located within the developer’s Mudon community in Dubailand.

Following strong investor interest, Dubai Properties revealed that it will release additional units for sale. Further details of the new launch including the number of units and the date were not disclosed.

The project offers investors three bedroom (mid, end, semi-detached) and four bedroom (semi-detached) units with average unit sizes ranging from 1,984 to 2,603 square feet.

The new townhouses will be surrounded with greenery and located close to the Mudon Central Park, the developer said.

The 41-acre park will include a 1.5 km jogging track, a cycling track, sports courts, outdoor exercise stations, water features and play areas.

It will also feature coffee shops and retail stores, Kids Zone, dedicated areas for open air markets and seasonal events, and garden pavilions.

The overall development will also have a 20,000 sqm community centre, which will consist of a grocery, a nursery, 14 leasable retail units, including a café and restaurant with outdoor seating, a medical clinic, a pharmacy, and a salon.

Dubai Properties has also tied up with GEMS Education to open a school by September 2016.

Abdulla Abushabieb, executive director – Customer Care and Sales at Dubai Properties, said: “Current market trends suggest that there is a significant demand for affordable housing units and Arabella Townhouses cater to a niche market.

“Dubai Properties will continue to move ahead with its strategy to build affordable yet elegant residential properties that complement the demands of both investors and end-users.”

Dubai’s property market has seen a slowdown in prices since last year, following strong growth in 2012 and 2013. Prices are expected to remain flat or drop by up to 10 per cent this year, according to real estate consultant JLL.

However, several developers have been launching projects targeting the affordable sector, and have reported strong interest from investors.