Jumeirah Golf Estates Launches New Residential Units Over Strong Demand

Jumeirah Golf Estates has launched its 15th community at the golf and leisure development, following strong demand for residential units.

The new community will be part of Phase A of development and follows the launch of another residential community Redwood and a clubhouse in the project, the company said in a statement.

The developer, however, did not specify the number of new units that will be added as part of latest community or the estimated completion date.

“Following the opening of our new Clubhouse and the launch of Redwood earlier this year, our proposition has been enhanced considerably and investors and end users are taking notice,” said Yousuf Kazim, general manager, Jumeirah Golf Estates.

Jumeirah Golf Estates has seen a rise in investor interest specifically because it hosts the annual DP World Tour Championship, he said.

“This weekend alone during the DP World Tour Championship we have witnessed a major uptick in interest and we seek to build on this momentum with the addition of a 15th community.

The developer said that information about the sales of the new residential units will be announced in the first quarter of 2015.

Developers are looking to gain investor interest through differentiating their projects as Dubai’s property prices stabilise after surging sharply during the last two years.

Jumeirah Golf Estates is primarily targeting golf lovers but Kazim said that the property is also attracting investors looking for a holiday home in the emirate.

“Jumeirah Golf Estates is a well-established venture. The project has lush green features with beautiful designs and open spaces; there are international tournaments with a viewership of 450 million people while over 60,000 people attend it,” Kazim said in an interview with Gulf Business earlier this year.

“We are targeting mid high to high end customers. We have customers who are end users, who want to use it as holiday homes. Around 60 per cent of the buyers are golfers while 40 per cent who come and live in this community may just like golf.”