Nakheel, the real estate arm of Dubai World, said yesterday that it has sold the first phase of 22 commercial and residential plots in Jebel Ali Village within hours.
More than 40,000 people are expected to live in the redeveloped Jebel Ali Village community.
It is being redeveloped into an integrated community, offering a range of apartment sizes and styles; and a wealth of conveniences, from restaurants and cafés, to hotels, supermarkets, fitness facilities and playgrounds.
"This has been an extraordinary sales result. Investors have realised that the planned regeneration of Jebel Ali Village, along with its prime location, provide the ideal position for commercial and residential developers to create their own signature development," Rashed bin Dhabeah, Director of Jebel Ali Village, said.
According to the master plan, Jebel Ali Village will offer a range of medium density housing options with supporting commercial and community retail services and all the amenities necessary for community living, including school, convenience retail, community club and recreation areas. A number of the existing facilities will remain as part of the redeveloped master plan such as mosque and popular Jebel Ali Recreational Club, which will remain open during its expansion and refurbishment.
The central park will also be extended to provide 12 hectares of useable space and a wide range of facilities within a landscaped environment.
The redevelopment has been planned to address a strong need for quality office and residential accommodation for a broad spectrum of the community with convenient access to existing facilities in the immediate area such as Ibn Battuta Mall and the Dubai Metro stations.
In August 2007, Nakheel had announced that it was redeveloping the Jebel Ali Village as part of Dubai's strategic plan for the future. Preliminary earthworks are scheduled to begin on the vacant area of land that surrounds the development in the coming months; however, residential and community facilities will remain unaffected as a result of these works.
Construction work on the redevelopment of Jebel Ali Village will begin by year-end, while the project is expected to be completed by the developer by the year 2013.