Targeted for completion by the second quarter of 2011, the development is the first of several projects to be launched by the developer in 2008 as part of a charted plan to invest Dhs8bn into the property and real estate sector in the Middle East by the end of 2009. In compliance with regulations set by the Dubai Land Department (DLD) and the Real Estate Regulatory Agency (RERA), the developer also announced that it has already registered for an escrow account for the project with Emirates Islamic Bank.
Located within District 11 of Jumeirah Village South and in close proximity to the Al Barsha and Emirates roads, ‘Stallion Tower’ is a 41-storey tower offering a total of 286 residential apartments including 144 studios, 118 one-bedroom units and 24 two-bedroom units. Set to occupy 270,450 sq. ft. with a total built up area of 243,404 sq. ft., the project will present a lavish yet comfortable residential community vibe. The latest project – being launched to coincide with the one-year anniversary celebrations of Khuyool Investments – boosts the value of the developer’s current project portfolio, which also includes the AED 650 million ‘Abjar Tower’.
Commenting on the launch, Eng. Fahad Ali Mousa, Chairman, Khuyool Investments, said,
“The launch of ‘Stallion Tower’ marks the start of another milestone for us as we embark on a journey that will cement our position as a leader in the property development industry in the region. ‘Stallion Tower’ will live up to its name as a powerful and imposing figure that stands out to establish the new benchmark in residential property development. Today’s real estate landscape thrives on diversity, and we believe that this project further diversifies our current portfolio of high value projects.”
Ideally located in a peaceful environment amidst the bustling cityscape, ‘Stallion Tower’ will offer residents access to a wide array of facilities including a state-of-the-art gymnasium, swimming pool, tennis court and recreational area at the top level of the podium. A total of 6 high-speed elevators will facilitate access through the tower while a retail arcade on the ground floor and 349 slots of parking spaces spread over seven levels in the basement, ground and podium levels of the tower will ensure convenience for future tenants.
“Our efforts to provide a convenient payment scheme for ‘Stallion Tower’ add a new dimension to the many benefits of owning a home in our newest development project. In addition to the advantages of living within a prime location in Jumeirah Village South, we have taken the extra mile to make our offered projects more accessible to customers, which will certainly enhance the attractiveness of our developments to investors from here and abroad,” concluded Eng. Kussay Al Sheikh, CEO, Khuyool Investments.
The launch of ‘Stallion Tower’ is part of the first phase of investment wherein Khuyool Investments has earmarked 35 per cent of its overall investment plan or Dhs3bn, towards the development of a number of projects in Dubai. The developer has previously launched the Dhs650m ‘Abjar Tower’ in Jumeirah Village South, and the upcoming projects include additional three high-rise towers and six mid-rise buildings in Jumeirah Village South, and three projects in Downtown Jebel Ali. In line with its plans, Khuyool Investments recently purchased land valued at Dhs200m within Dubai World Central (DWC), the 140-square kilometre urban land development being constructed around the world’s largest airport, with plans to develop a mixed-use and residential complex within DWC.
Khuyool Investments was established by two pioneers in the UAE real estate scene – Eng. Fahad Ali Mousa and Eng. Kussay Al Sheikh. Driven by strategies aligned with the current market trends and insights, the developer is focused on delivering investments opportunities that ensure high returns. Though its leaders’ firm resolve to dominate the international and local real estate market, the company is steadily moving towards its goal of making the ‘Khuyool’ name synonymous to landmark properties in Dubai and beyond.
Tuesday, April 29- 2008 @ 10:44 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.