Meydan,G&Co launch 'Millennium Estates' villa development

Meydan and G&Co on Thursday announced the launch of Millennium Estates, a new luxury residential development set to occupy Meydan’s South Extension.

Construction work on the development has commenced following the ground breaking, with completion and delivery scheduled for late 2015.

The Dh1.2 billion gated community will comprise 198  villas built over 3.8 million square feet of land and will be available on a freehold basis. The villas will be offered in three distinct types catering to different taste and lifestyle requirements. They will range in size between 5400 square feet of livable space and 6,800 square feet, and will have ample garden space. The development will also include walkways and common parks.

Speaking at the launch, Mohammad Al Khayat, head of commercial and free zone at Meydan, said: “We are very pleased to see this launch come to fruition three years after the initial land sale announcement, and with delivery to the same timeline promised then. We are confident that Millennium Estates will become another world-class development to add to our growing Meydan community portfolio. I would like to congratulate G&Co. and its chairman Joseph Ghossoub for their vision and I am confident the development will attract huge interest from investors and homebuyers.”

Joseph Ghossoub, chairman of G&Co., said: “Dubai’s real estate market has shown incredible resilience over the past few years, and we believe it will only go from strength to strength. Today’s launch of Millennium Estates is further evidence of that.
“The Millennium Estates will epitomise luxury and functionality,” added Ghossoub.

The development will adhere to the Real Estate Regulatory Agency (Rera) regulations in regards to sales processes, including certified escrow accounts. Payment plans have been set at 10 per cent on booking, 10 per cent after 60 days, 5 per cent after 120 days, and the remaining 75 per cent upon handover of the unit.

Located in Meydan’s inner circle, neighbouring the grandstand, the Millennium Estates are set to offer the convenience of nearby urban destinations, including DIFC, Downtown Dubai and a direct link to Sheikh Zayed Road.
 

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