XXII Carat on track for delivery by end of 2017

XXII Carat project is offering 22 luxury villas covering 500,000 square feet on the Palm Jumeirah.

Forum group is on track to deliver first-of-its kind luxury villa project at the Palm Jumeirah by the end of 2017, its top official says. The international property conglomerate, which unveiled its iconic development - XXII Carat at the Palm Jumeirah West Crest, said residents of the Mediterranean architectural inspired villas will enjoy a luxury hotel-inspired lifestyle offering spacious accommodation with exclusive access to private beachfronts spanning 720 feet with 360° views of Dubai city and the Arabian Gulf.
 "We started construction in August 2015 of the 22 luxury villas on the Palm Jumeirah, nestled between the One & Only The Palm and Jumeirah Zabeel Saray hotel properties on the Crescent," Anton Yachmenev, managing director, Forum Group Dubai, told Khaleej Times on Tuesday.
Forum Group was established in 2008 by CMV holding, an international investment holding company that has a diversified portfolio of quality companies in Europe, Asia and the USA. CMV specialises in a number of sectors including real estate development. Boasting over 500 employees globally, the company is poised to expand its ultra-luxury property portfolio of multi-faceted global real estate.
The group entered the Dubai real estate market in 2015 with the creation of the exclusive XXII Carat residential villa project in Palm Jumeirah. It is also planning to launch a number of other exclusive residential developments in Dubai in the future.
"Forum Group is launching its first Dubai venture with 22 luxury villas covering 500,000 square feet on the Palm Jumeirah - one of the most sought -after locations in Dubai," according to a statement. 
 The residential villa size varies from approximately 8,000-13,000 square feet while plot size is ranging between 16,000 and 25,000 square feet. The residents of this gated community will have exclusive private beach access as well as the ultimate waterfront living experience.
"The starting price of a villa is Dh40 million and it will go up to Dh75 million. The villas are expected to be delivered by the end of 2017," Yachmenev said.
Forum Group is known for its special focus on high-end luxury residential developments as well as mixed-use commercial properties. Since its establishment in 2008, the group has delivered significant returns for investors and currently has an international asset portfolio of more than $500 million. - muzaffarrizvi@khaleejtimes.com