Al Habtoor City homes see strong demand

There are 1,460 apartments in the three high-rise towers that make up The Residence Collection.

Al Habtoor Group founding chairman Khalaf Ahmad Al Habtoor has said the second phase of the residential component of Al Habtoor City is sold out. Since the launch of the Residence Collection in 2016, 180 units have been sold.

"Demand has been high," said Al Habtoor. "It is unique because of its location, directly on the Dubai Water Canal and along Sheikh Zayed Road. Residents get the benefit of having three international hotels within Al Habtoor City. And, later this year, the complex will be home to La Perle offering world-class theatre right at the doorstop."

Al Habtoor added: "The Residence Collection is already 63 per cent finalised. This is verified by the Dubai Land Department. Home buyers will receive their keys in the fourth quarter of 2017."

There are a total of 1,460 apartments within the three high-rise towers that make up The Residence Collection - Noora Tower, Amna Tower and Meera Tower. The first phase involves Noora Tower, which consists of 548 units, situated directly on the banks of the Canal.

The Leisure Collection incorporates multiple restaurants, a tennis academy and a theatre. La Perle by cultural creation company Dragone will open later this year.

The one million sqft development includes an array of retail and leisure facilities including a European-style boulevard, a marina and a 35,000 sqft swimming pool podium.

The Residence Collection has garnered interest from local and overseas investors. Earlier last week, the Bank of Singapore brought a group of potential investors to Al Habtoor City. The delegation included ultra high net worth individuals from Singapore, Hong Kong, China, Indonesia and Malaysia. They were given a glimpse of all three collections in the development: The Hotel Collection (The St Regis Dubai; W Dubai - Al Habtoor City; Westin Dubai, Al Habtoor City), The Leisure Collection and The Residence Collection.

Prices for the luxury units, which range from one to seven-bedroom apartments, start at Dh1.9 million.

- business@khaleejtimes.com