The flagship project currently under construction will be a mixed-use commercial and residential ultra-luxurious development. It will rise to 30 typical floors, occupying an area of 320,000 sq feet. The Nour Bay Tower one blends high tech functionality and contemporary architectural acumen, offering a choice of 216 elegant units comprising of one, two and three bedroom apartments and two penthouses, as well as offices carefully designed to address all business needs and retail area.
In addition, there will be a floor exclusively set aside for a fully equipped health and sports club with swimming pool facilities, Jacuzzi spa and luscious garden. Ample parking will be available at the three basement level and four podium-level with 24 hours security.
Driven by a passion for excellence, Watford Company aims to transform the property landscape in the region by developing a series of projects besides the Nour Bay Tower one, not only in the UAE but in the neighboring Middle East countries, according to the company’s Managing Director, Eng. Munther Jumran. The company, which is one of the leading real estate developers, has a Capital Investment of Dhs500m.
Eng. Jumran said that the project will basically cater for both the middle-budget and elite community. Nour Bay Tower one’s advent into the Real Estate is an indication of Watford’s vivid foresight and planned response to the burgeoning Real Estate and Property development in the region.
The main construction contract has been awarded to Bin Sabt, a top-tier contracting firm in the region, while consultancy is being undertaken by Mazaya Consultants, whilst the Style-Home will be the sales and marketing agent for the project.
In a bid to further boost investor confidence, the developer has also announced that it has registered an escrow account for the project with Dubai Islamic Bank. Besides, it has also introduced an end user financing for the customers through several banks.
The elegant signature project will be launched this week during the Cityscape Dubai event which starts from 6 to 9 October, at the Dubai International Exhibition Centre.
Eng. Jumran said:
“Watford fully supports Dubai’s Real Estate Regulatory Authority (RERA), as it safeguards the interest of serious investors and developers in the market.”
He went on to add, that Dubai’s economic fundamentals are very strong and Watford Properties does not believe in the bubble burst theory, as it foresees a long term investment, basically catering to the huge demands of the community.
We are one of the few companies who have a full-fledged project management department with specialized professionals having decades of experience.
Eng. Jumran noted that Watford Properties also considers the project’s strategic location at Jumeirah village due its proximity to Jebel Ali Airport, to be the world’s largest and located at the intersection of the Emirates/Al Khail Road.
The project is set to be completed by the beginning of 2011, adding another landmark development to Jumeirah Village, which is a freehold residential development that will contain over 6,000 villas and townhouses, set amidst luscious landscaping and unsurpassed leisure and lifestyle amenities, to deliver a unique living experience for its residents.
Eng. Jumran revealed that Watford Properties decided to invest in the UAE, due to the Freehold and Leasehold laws, that has made ownership of properties in the UAE very simple, adding that the real estate industry generates excellent returns as well as capital appreciation.
“Guided by a tradition of excellence through investor confidence and satisfaction, we started with Nour Bay Tower one 1 project, after having gained experience in the International Real Estate industry and will continue to grow further in the region,” says Eng. Jumran.
“Our company slogan is ‘Growing Greener’ and we are among the first leading project developers in Dubai, who are adhering to the international green building standards in mind and also being driven by the government policy of green thinking,” he adds.
Watford Properties has established a reputation for transparency, integrity and customer satisfaction in mind by delivering unique practical property in the market.
Monday, October 6- 2008 @ 11:58 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.