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Madinat Jumeirah Living, Dubai Holding’s flagship residential development and an exclusive freehold project located in the prime Madinat Jumeirah district, opposite the famous Burj Al Arab is on track for scheduled handover in Q2 2021.
The company announced the launch of the project in 2018 and started construction one year later.
The first phase of the development is made up of two residential buildings with spacious units priced at USD 462 thousand, layouts ranging from one to four-bedroom apartments. The construction of the project is currently 63 percent complete and the two buildings are scheduled for handover by Q2 2021.
Enabling works, substructure and superstructure are 100 percent accomplished. As for
mechanical, electrical, plumbing and finishing works, they still go on and are 66 percent complete at the moment. Construction on the podium level, where the 180 square-meter swimming pool will be placed, are also in progress.
Prime location, superior built quality, premium amenities and design of the residence units make them highly attractive, so phase 1 is already 99 percent sold.
The second phase of the projects includes three residential buildings offering luxurious one to four-bedroom apartments. Construction works on phase 2 is well underway registering 42 percent completion and set for delivery in Q3 2021. It is also witnessing huge demand and is almost sold out.
Madinat Jumeirah Living has received an overwhelming positive response from local and overseas investors. 43.52 percent of all units were purchased by foreign investors. The project's success in international markets is another proof of Dubai’s growing popularity as a preferred investment destination.
Overlooking the Arabian Gulf, Madinat Jumeirah Living is Umm Suqeim's first freehold residential project. The 54-building master development is part of a pedestrian focused, environmentally friendly district that reflects the atmosphere of Madinat Jumeirah Resort.
