First Chinese developer enters Dubai real estate

The model of the Royal Gardens in MBR

Apex Real Estate Development, a private development company in Dubai, will launch 'The Royal Gardens', a residential project in Mohammad Bin Rashid (MBR) City - District Eleven master development, thus becoming the first Chinese real estate developer to enter Dubai.

“The Royal Gardens is our inaugural project and our main goal is to provide luxury living at affordable prices,” Mustafa H Yassin, Manager – Sales and Marketing, Apex Real Estate Development, told Emirates 24|7.

Apex Real Estate’s, incorporated in December 2013, new development will cover an area of 6 million square feet and will have 878 residential units comprising townhouses and villas.

The company says it will be a fully serviced master planned community in line with Dubai Municipality’s Green Code Building regulations.

Though Yassin declined to give sales prices, he said, “We are not here to sell (at Cityscape). The law states that you are not allowed to start selling unless you have all the necessary approvals in place and the escrow account is opened. We are follow these laws. Once everything is in place, we will then start revealing our prices and layouts.”

MBR City - District Eleven is being developed by Meydan Group will be a suburban mixed-use community development featuring parks, private schools and retail businesses.

The Royal Gardens is expected to be ready by no later than 2019, Yassin said, adding, “Everything needs to be in place just before 2020.”

Dubai will host Expo 2020 from October 20, 2020 to April 10, 2021, which will draw more than 25 million visitors to the country.

Regional and international developers unveiled 27 projects worth Dh40 billion at the three-day Cityscape Global, which closed on Tuesday

Read: Dubai's Cityscape: 27 projects, Dh40bn

 

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