Nakheel sells 262 units on launch

Nakheel, Dubai-based master developer, on Sunday said it has sold 262 units in Warsan Village, with a combined sales value of Dh460 million.

A Nakheel spokesman said: “As expected, we’ve seen a healthy initial response – from people from the UAE, GCC, India and China – to our townhouses, which are set to bring a completely new style of living to this already hugely-popular community.

“Many people who bought today are investing in Dubai for the first time, others are first-time customers of Nakheel and most are end-users. We anticipate more interest in this project in the coming days and next week at Cityscape Global.”

Hundreds of investors lined up outside Nakheel’s sale office on Sunday to buy units in Warsan Village, a townhouse project being developed near International City.

FB, an investor, who bought units in the project, told Emirates 24|7: “I was waiting in the queue since 6 am in the morning. There were nearly 300 people and I believe some have been in the line since Saturday night.”

He informed that starting price for three-bedroom townhouses were at Dh900 per square foot with the down payment being 10 per cent. The rest was payable over three-years and expected date of completion was January 2016.

“Nakheel does not bar investors from selling in the secondary market once they have received the sales contract. I expect to make a five per cent profit from sale,” FB said.

Investors at the Nakheel Sales Centre on Sunday morning.

Though the company is likely to make an announcement on sales later in the day, investors said that the project was set for sell out.

In the past 18 months, developers have managed to sell off plan with villa and townhouse projects in demand. Last Thursday, Dubai Land Department increased property transfer fee to four per cent from two per cent with the aim to stop flipping in the market.

Warsan Village, set on a 47.5 hectare site on the south-west side of International City, will include an affordable, gated community of 942 townhouses. There will be a recreation centre, mosque and 250 apartments set above a retail plaza with 365 outlets. The three-bedroom town homes span 2,013 square feet and come with a maid’s room, three bathrooms, powder room, two balconies, private garden and parking for two cars.

Warsan Village will also have a recreation centre with swimming pool, sports courts and gymnasium; a mosque with car parking; and extensive shaded, green space including a large park with a 1.7 kilometre jogging track.

Nakheel is also building an 18,000 square feet neighbourhood mall, announced earlier this year, next to Warsan Village.  The mall will contain a supermarket, convenience stores and a host of cafes and restaurants.

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