Nakheel, the real estate development arm of Dubai World, yesterday announced the launch of the first phase of Veneto, a residential district in the Waterfront development.
Veneto will comprise 1,400 villas and townhouses, and 1,200 low-rise apartments to accommodate an eventual population of 14,000. Emirates Business had reported earlier that development work and sales for the project will get under way in April.
“Groundwork has begin on the first phase, with the handover of villas expected in the second half of 2009,” a spokesperson said.
“There will be a second phase for Veneto,” he added, without disclosing the launch date or size of the development. Veneto will feature city centre living close to Sheikh Zayed Road with each home no further than two kilometres from the coastline. With a limited number of villas and low-rise townhouses, Veneto has been master planned to create an exclusive waterside neighbourhood on the fringe of the Waterfront development.
The modern villas and townhouses are surrounded by a wealth of space and an array of amenities such as mosques, community centres, nurseries, schools, community pools and health care facilities. Veneto will offer views of landscaped parks and waterways; residents will be able to enjoy tree-lined pedestrian walkways, waterfront boardwalks and active marinas, with 92 canal properties offering their own private berths.
“It is exceptionally rare in Dubai for new villas to be located in such close proximity to a city centre, so Veneto is bringing something totally remarkable to homebuyers, particularly as this is a waterfront project. Veneto is set to become one of the most exclusive addresses in Dubai and there has already been a tremendous response from the market,” Matt Joyce, Nakheel Managing Director, of Waterfront said.
The company is also expected to begin sales for Canal District by month-end and plans to launch the Badrah phase by May.
In March, Nakheel had revealed the master plan for Waterfront City, which will be the centrepiece of the development. Covering a land area of more than 330 hectares, Waterfront consists of a central island surrounded by four neighbouring districts – the Boulevard, Madinat Al Soor, the Resort and the Marina.
Nakheel launches first phase of Veneto