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Lootah Real Estate brings in new payment plans in Dubai

March 30, 2015 7:49 am

Shamal Terraces by Lootah Real Estate Development.

While announcing sales updates of Shamal Community, Lootah Real Estate Development, a Dubai based high-end developer, revealed a new competitive payment plan for UAE Nationals and expatriate-friendly plan for remaining few units of Shamal Terraces and for the next phase of Shamal Terraces and Residences.

The company, through the press statement, has announced sales launch of phase-two of the Shamal Terraces and Shamal Residences, located at Jumeirah Village Circle. To facilitate buyers, staying ahead of the competition and to be on time for future projects, the new mortgage facility of up to 80 per cent financing has been introduced.

Phase one of the Shamal Terraces included 30 villas. Shamal Residences includes 204 studio and 55 loft apartments. The Shamal villas have a total built up area of 4,481 to 6,362 square feet, whilst Shamal Residences studios range between 516 and 835 sq ft. The overall build up area of the Shamal Community development spans over 147,000 square feet.

Following the high investor response to a Dh350 million ($95 million) Shamal Community, the sale of first phase of the development is coming to an end. Only a few ready to move villas are available for buyers on first-come-first-serve basis.

Saleh Abdullah Lootah, Executive Director of Lootah Real Estate Development, commented:“We are delighted to witness the success of phase one of Shamal Community, which owes largely to our viable sales strategy suited to a variety of investors, ideal location of Shamal Community at Jumeirah Village Circle close to the centre of Dubai’s business districts, and the longstanding reputation of Lootah Real Estate.”

He added: “an estimated 40 per cent bookings of Shamal apartments, villas and lofts soon after the launch is a testament to our quality lifestyle offerings in our brand new neighbourhood community.”

“We are elated by our investors and individual and bulk buyers, which demonstrates that investors do not compromise on quality lifestyle and hence choose projects, such as Shamal Community, that are offered by established and well reputed developers.” said Saleh Lootah.

The Lootah Real Estate Development officials have announced a special competitive payment plan for UAE nationals. The company has arranged a demo villa for viewing at Shamal Community, JVC. The completion of Shamal Residences apartments is scheduled in 2016. All lofts have already been sold out. Only few studios are available for sale.

Each apartment at Shamal Residences is featured with high ceilings, large glass sliding doors, spacious living areas, expansive terraces, attached bathrooms, modern kitchen, swimming pool, a fully equipped gymnasium, a sauna, car garage, round the clock maintenance and security for the whole Shamal Community.

Last year, the press and sales launch concluded with four agreements with the most professional and reputed real estate brokers. Individual, wholesale buyers and agents had a close look of the mockup, maps and mosaic of properties on display with an aim to have for their customers and families a line of attractive residential property options at Shamal Community development. Partnering brokers were of the view that tie up with the Lootahs was worth it due to Lootahs longstanding and pioneering position in the property market of Dubai in particular, and of UAE in general. In future, Lootah Real Estate Development is planning to develop more neighbourhood communities in Dubai.


By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.