Abu Dhabi: Adnan Najm
Mahmoud Dandashli, CEO of the Business Sector at Jubail Island Investment Company, said that the company was able to complete about 95% of the project’s infrastructure work, and explained that the company is working to turn the land over by the end of the year hand over to buyers. this year, and the villas of the first phase during the last quarter of 2023.
In an interview with Al Khaleej, Dandashli said: “The main contractor for the construction required to develop the 180 townhouses in Jubail Souq has recently been appointed, which will be completed in April 2024.”
He added, “Expo 2020 Dubai has had many positive results on the real estate sector, including the high demand for accommodation in all parts of the Emirates, in addition to attracting investors and property owners from individuals and owners of commercial companies from all over the world. .” Here are the details of the conversation:
How far have you reached the implementation stages of the Jubail Island project and how have you seen the demand for buying and owning the project?
– We are pleased with the remarkable progress seen by the development and construction work on the Jubail Island project; Where all work goes according to the set schedule. With the completion of almost 95% of the infrastructure works of the project, which includes the main lines of electricity, water, communication and sewage, and the completion of the construction of the main bridge connecting the island project with Sheikh Khalifa bin Zayed Al Nahyan Street, we confirm that we are on track to hand over the land to buyers at the end of this year And the delivery of the villas of the first phase during the last quarter of 2023, where approximately 40% of the villa development and land preparation work on the island has been completed so far.
In how many phases is the project divided and how many units will the project include?
– The Jubail Island project is a distinctive addition to the population scene in Abu Dhabi, and during the planning stages of the island project we adopted the principle of low density in construction, with the aim of providing complete privacy and a sophisticated and elegant lifestyle offers for all residents, in addition to the availability of all amenities and luxury amidst the natural and environmental landscapes of mangroves. The population of the island is expected to reach 8,000 people when all development work is completed. The Jubail Island project includes more than 1,300 units divided into villas, townhouses and apartments. The first phase of the project, which is currently under construction, includes the development of 450 villas announced last year, with various housing options ranging from three to six bedrooms, It is scheduled to be completed in the last quarter of 2023. Recently, the main contractor was appointed for the construction work required to develop the 180 townhouses in Souk Al Jubail, which will be completed in April 2024 will be completed. The new residential complex “Village Village” was also launched. Ain Al Maha”, which will include a group of villas overlooking the waterfront of the island, and a number of distinctive destinations and service and leisure facilities. As for the rest of the development stages, they will be announced later.
What are your efforts to launch and market the project?
What distinguishes the Jubail Island project is its privileged location in the heart of the capital of the UAE, Abu Dhabi, and the scenic nature surrounding it. The project also offers everyone who wants to own several options for housing units, in addition to the possibility of adding their own design touch, to suit their lifestyle.
We are always striving to open new recreational facilities on Jubail Island, with the aim of attracting visitors and giving them the opportunity to see the benefits of living and settling in the lap of nature on the island. In this regard, the Jubail 360 Tower was opened at the beginning of 2022, offering visitors to the island and those who want to buy and own the opportunity to enjoy the wonderful scenery on Jubail Island, as well as to see the latest developments in construction. see. work on the island.
How has the real estate sector in the country benefited from the Dubai Expo to introduce visitors and people to the sector and its projects?
– The UAE’s hosting of the “Expo 2020 Dubai” exhibition has opened up very broad horizons for the real estate market in the various emirates of the country; The exhibition helped to shed light on this vibrant, thriving and competitive market for many markets worldwide, and we see this clearly in the real estate sector of the Emirate of Abu Dhabi, with an increase of 543 real estate transactions for the first quarter of this year , compared to the same quarter last year.
How many Emiratis are buyers of project units compared to expatriates and foreigners?
We have seen a high demand for buying and owning real estate in the Jubail Island project since the beginning of the launch of housing units and plots, and this demand has gradually increased with the continuation of development work to later a high percentage to reach demand for sale before the units are launched (pre-sale). Our sales figures show that approximately 60% of buyers are UAE nationals, followed by 35% of resident expatriates and 5% of buyers from around the world.
Does the company work with local banks to provide the necessary funding to continue implementing the project?
– We are always working to establish strategic partnerships that will support and promote the growth of the real estate sector in Abu Dhabi, in addition to ensuring the acceleration of implementation and development work on the island. Earlier this year, it was announced that an Islamic financing agreement was signed with Abu Dhabi Islamic Bank worth $500 One million dirhams, which will cover the construction of approximately 450 villas and “180 townhouses” in the first phase of the development of Jubail Island. This transaction is an important step, and a confirmation of our commitment to developing a prominent residential destination in the heart of the UAE capital. A prominent partnership has also been signed with Abu Dhabi Islamic, which aims to provide a housing financing offer to all investors in the island project, and to offer attractive financing options for customers who want to own their dream home in one of the leading residential communities. the capital.
Luxury real estate in Abu Dhabi
Luxury real estate in Abu Dhabi is witnessing steady growth; Where many individuals are looking for residential complexes characterized by high quality of life and the luxury of living in the midst of nature, enjoying more privacy and comfort, which is reflected in the high demand seen by buyers for the units of Jubail . , due to the services provided by the project, innovative designs and a high-end lifestyle Low density, amidst the charming scenery of mangroves and the diversity of wildlife.