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01 December 2023

Indigo kept busy with Dubai market

By Parag Deulgaonkar



Indigo Properties, a Dubai-based real estate developer, has no plans to launch projects overseas, but will concentrate on consolidating its position in the emirate, a senior company executive said.

“We don’t intend to venture overseas as we are confident of the Dubai property market. There is no let up in demand,” Anand Lakhiani, Director, Indigo Properties, told Emirates Business.

The company is also planning to launch a series of projects this year in various master developments such as Al Furjan, Mizin, International City and Dubai Waterfront.

“We will be launching an upmarket residential project in Dubai Waterfront in the second quarter, while a commercial and mixed-use project will come up in Al Furjan and Mizin by the end of year.”

Indigo is in advanced stages of discussion with Istithmar and will soon make a formal announcement about Orange Lake Villas at Jumeirah Golf Estates, Lakhiani added.

The company has announced construction of four developments in the Central District of International City. Indigo Optima One and Two are two mid-rise developments (ground plus 10 floors), providing business space within the International City Master Community phase one.

Indigo Spectrum One and Two, being built in the same vicinity, are luxurious mid-rise residential developments with one- two- and three-bedroom units.

The residential units in the Indigo Tower, the company’s flagship project in Jumeirah Lakes Towers on Sheikh Zayed Road, will be handed over soon. The residential part of the tower will have 272 apartments in a combination of studio, one- two- and three-bedroom apartments and duplex penthouses, while the commercial part will consist of 68 offices over eight floors.

According to Lakhiani, the company does not believe in withholding units in their projects to make gains later on from price appreciation. “We intend to sell up to 75 per cent of the project during the launch stage. We don’t believe in withholding inventories, but let our investors enjoy the benefits.”