Buy homes for Dh1 million at Dubai Hills Estate

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Buy homes for Dh1 million at Dubai Hills Estate

Published: Thu 14 Jul 2016, 5:47 PM

Last updated: Thu 14 Jul 2016, 11:58 PM

Activity is hotting up at Mohammed bin Rashid City (MBR City). Emaar Properties launched sales for apartments in a mid-rise residential tower in its sprawling 11 million sq m Dubai Hills Estate on Thursday.
Around 147 residences, comprising 1, 2 and 3-bedroom apartments, were released to the market at Acacia tower in Dubai Hills Estate. The homes offer views of the central park or the boulevard. These apartments will be delivered to home owners in 2018.
The homes are estimated to be priced at approximately Dh1,400 per sq ft, according to Global Capital Partners, a Dubai-based consultancy.
LuxHabitat, a Dubai luxury property specialist, pegs the price for a 1-bedroom apartment at Acacia at Dh1 million, 2-bed unit at Dh1.4 million and a 3-bed at Dh1.9 million.
The community is slated to welcome its first residents later this year. These include shell-and-core golf villas in the Fairways and Parkways communities located amidst an 18-hole championship golf course.
Investors could purchase plots here and build villas of their choice, a la Emirates Hills. The developer also released Maple townhouses, Sidra premium villas and Mulberry apartments in earlier sales phases.
Dubai Hills Estate provides a range of luxury properties at different price points. For instance, you could buy a mansion for Dh40 million and above or a 1-bed apartment at Acacia for Dh1 million.
"Prices for Acacia are at the lower end compared to other offerings in Dubai Hills Estate. But they remain a fantastic opportunity for GCC and international investors as well as for first-time buyers such as young couples. The standard and quality of build provided by Emaar is always world-class," said Jason Hayes, head of new development at LuxHabitat.
Hayes added that Acacia apartments are the best value-for-money off-plan investment in the open market today.
"Prices for villas in Dubai Hills Estate vary depending on the community. In Sidra, villa prices range from Dh1,150 to Dh1,250 per sq ft. However, in the mansion space, which is the centre of the area, plot prices can vary from Dh375 to Dh450 per sq ft," informed Hussain Alladin, head of research at GCP Properties.
Alladin added: "These are different categories and hence demand extends to different segments of the population. But overall, the trajectory of demand remains strong."
Dubai Hills Estate will also feature a central park, a mall and community retail areas, including a boutique mall for high-end brands, two hotels, an international hospital, schools, a 7km boulevard with cafes and restaurants, commercial properties and over 45 km of trekking trails.
A joint venture with Meraas Holding, Dubai Hills Estate is located off Al Khail Road. Once complete, the community will host over 4,400 villas and townhouses and 22,000 apartments.
Dubai Hills Estate has connectivity to public modes of transport, including a Dubai Metro link. Two Metro lines, Pink and Purple, will serve the residents who will have access to three stations. A dedicated Dubai Hills Rail line will connect residents to the two international airports in the city.


Deepthi Nair

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