• Home
• /
• Realty
• /
• Business

DIP Green Community ready to deliver 76 townhouses in Q1 2017

Green Community West Phase 3 within Dubai Investments Park [DIP], is on track to deliver 76 townhouses in the development by first quarter of 2017.
The state-of-the-art project being developed by Properties Investment - a joint venture of Dubai Investments and Union Properties, covers an area of 1.48 million square feet and forms a natural extension to the existing Green Community West development.
Being built in three stages, 76 townhouses are expected to be completed and handed over in the first quarter of 2017, 96 townhouses are expected to be completed in the second quarter of 2017 and 38 townhouses, 16 apartments and retail units are expected to be completed in the third quarter of 2017.
Offering a mix of residences, retail area and recreational area, Green Community West Phase 3 will provide a way of life within a secure community, which encompasses landscaped gardens and beautiful surrounds with natural greenery. Total built-up area of the project is 1.01 million square feet and sellable area is 976,718 square feet.
Dewan Architects and Engineers are the lead consultants and Shapoorji Pallonji Mideast LLC are the main contractors of the Green Community West Phase 3 project. Covering 67 lush hectares of residential, leisure, retail, and commercial properties, the Green Community development within DIP prides itself on its modern surroundings and tranquil environment.
Attractive financing by Amlak
Meanwhile, Green Community has signed an agreement with Amlak Finance, a leading real estate financier in the region, to offer attractive property financing of up to 50 per cent of the property value and tenure of 25 years for customers in the Green Community West Phase 3 project within the DIP.
The agreement was signed by Ahmad Al Marri, general manager of Union Properties, and Arif Alharmi, managing director and CEO of Amlak Finance.
"The agreement with Amlak Finance is aimed at offering its potential as well as existing customers the ease of property finance within the Green Community West Phase 3 project," said Al Marri.
He said the Shariah-compliant financing scheme tailored by Amlak for this premium development enables more investors and end-users to become part of the community.
"Amlak will offer property financing to salaried or self-employed UAE residents and non-residents, subject to terms and conditions," he said.
The Green Community West Phase 3 master plan comprises two recreation blocks including swimming pool and services, squash court and Community Hall. The development also includes a retail area. Covering 67 lush hectares of residential, leisure, retail and commercial outlets, the Green Community offers modern and beautiful surroundings with natural greenery.
"We are very pleased to be collaborating with Properties Investment for their Green Community development. Amlak is committed to providing innovative and leading Shariah-compliant services and we look forward to providing these to the Green Community residents," Arif Alharmi said. - muzaffarrizvi@khaleejtimes.com