Bloom Properties on Saturday announced a mixed-use project in Jumeirah Village Circle (JVC) in Dubai, marking the Abu Dhabi-based master developer's foray into mid-market housing in the emirate. The property firm, a Bloom Holding business specialising in the development of integrated and sustainable communities, said the project is a family-friendly development designed to provide a sense of community amid lush landscaping.
The growing master community has become a popular choice for both investors and residents due to its close proximity to major landmarks including Mall of the Emirates, Dubai Media City, Dubai Internet City, Palm Jumeirah and Dubai Marina, among others. The community of JVC comprises a range of properties such as villas, apartments, townhouses, offices and retail supported by a wide array of amenities and services.
"The shortage of good quality, mid-market accommodation is a major challenge facing the real estate industry across the country. This project will allow us to meet the demand for mid-market housing and fulfil the requirements of the country's growing middle income population without compromising the quality of construction and finishings," Sameh Muhtadi, CEO, Bloom Holding, said.
Ideally located in the master community, Bloom Heights offers easy access to all major roads and will consist of two high rise towers linked internally by four podium levels. The project will offer a total of 686 residential units ranging from studios, one, two and three bedroom apartments at prices starting from Dh360,000. Bloom Heights is scheduled for completion early 2019.
"We are confident that Bloom's long-standing reputation as a trusted and visionary developer of many successful developments will appeal to investors and potential home-owners looking for a stable investment. Offering estimated rental yields up to 11 per cent, the project creates an unparalleled opportunity for investors in one of Dubai's upcoming and strategically located communities," Muhtadi said.
Bloom Heights will feature modern and contemporary architecture with an intelligent design that maximises the value of living space. In addition to its efficiently designed apartments with high quality finishes, the project will offer a host of amenities including two swimming pools, a running track, a gym, a multipurpose hall and convenience retail outlets. - email@example.com