Citing limited seats and high demand for tomorrow’s Jumeirah Park plot auction, Dubai-based property developer Nakheel is urging investors to register early to guarantee their opportunity to buy land.
The demand can be gauged from the fact that despite Nakheel charging a Dh1,000 non-refundable registration fee, its first auction of land at Jumeirah Park, held last week, raised nearly Dh34 million.
The developer is now releasing another batch of residential plots – ranging from 7,750 to 8,700 square feet – at the community, where it says land is in big demand.
In a media statement yesterday, a Nakheel spokesperson said: “Our auction will start at 11am sharp on Tuesday. We encourage investors to register in advance to avoid last minute jostling for spaces on the day. Last week’s Jumeirah Park auction was a tremendous success and we gearing up for an even higher level of interest on Tuesday. Investors should sign up today [Sunday] or tomorrow [Monday] to avoid disappointment.”
Jumeirah Park spans 350 hectares and will have 3,000 homes when complete. Nakheel has delivered 1,795 villas there, and with another 800 under construction. Nakheel’s new 114,000 sq ft community centre at Jumeirah Park, currently undergoing fit out, will open mid-2014. The auction will take place at the Nakheel Sales Office, Al Sufouh Road, Dubai.
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