Huge residential and retail project underway in JLT - with buyers snapping up 660 apartments worth AED300million in JUST one week

A new AED1.3billion Dubai development set to transform one of the city's most popular residential areas is well on its way - after selling almost 700 apartments worth AED300million in just one week.

Property developer Seven Tides last week revealed plans for its first mixed-use development in Jumeirah Lakes Towers (JLT) with the launch of SE7EN CITY JLT. Consisting of 2,635 units, the development will spread over 3.5 million square feet and be situated within Cluster Z in DMCC, opposite the Montgomery and Emirates’ golf courses and the Emirates Hills community.

Already 15% completed, the huge multi-tower project - which sits on a common podium - will include studio, one, two and three bedroom apartments as well as a limited number of duplex apartments. It will also host promenade restaurants overlooking a lake, gym, health clubs, infinity pool, children’s pool, roof garden, cafes, and a large retail offering.

Property developer Seven Tides last week revealed plans for its first mixed-use development in Jumeirah Lakes Towers (JLT) with the launch of SE7EN CITY JLT

Following news of the exciting development being announced last week, keen buyers snapped-up an incredible 661 apartments in just seven days, costing a combined AED301,863,775.

“To sell out phase one of our project in less than one week is remarkable and due to that success, we are now launching phase two of the project,” said Abdulla Bin Sulayem, CEO, Seven Tides.

“Furthermore, this underscores the point that if you offer investors a compelling proposition, based on ROI, location and quality, they will invest irrespective of overall market sentiment.

“SE7EN CITY JLT is designed to provide everything a resident might possibly want, with retail, entertainment, food and beverage outlets, a nursery, gym and a health club. However, when residents do venture outside, they’ll still be able to enjoy the urban vibe, with the excitement and fast-paced, hustle and bustle of city life, right on their doorstep.

“In complete contrast, residents will also have the best of both worlds, with stunning panoramic views of Jumeirah Islands, the Montgomerie and Emirates Golf Courses, the Palm Jumeirah, Dubai Marina and Jumeirah Beach Residences."

All apartments will come complete with high-end fittings and finishes and feature built-in wardrobes and branded white goods.

According to the developer, surveys in the US have recently suggested that over 60% of young professionals now prefer to live in diverse-use communities than single-family houses. In line with those findings, they say JLT has become a magnet for young professionals, enjoying an urban lifestyle – working, living and experiencing the urban environment with offices, bars and restaurants only minutes away either on foot or by metro.

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