Emaar's Arabian Ranches Golf Homes go on sale for up to Dh11 million

The developer of the 18 Golf Homes, or luxury villas, located in the Arabian Ranches Golf Course in Dubai is selling them for between Dh7.3 million and Dh11 million, Emirates 24|7 can reveal.

Emaar Properties, a Dubai-listed developer, is asking for full payment to made in six months.

Buyers will have to give a Dh100,000 bank guarantee that will be returned after the buyer completes the villa fit-out.

The time for completing the fit-out is 24 months.

A sales agent for the developer confirmed the prices.

The villas, each set in a plot of land 17,000-27,000 square feet, are available in three home styles – Hacienda, Castilla and Suncadia.

Hacienda homes, shell and core form, are 7,000 square feet in area; Castilla are 8,270 square feet, while the Suncadia homes are nearly 9,000 square feet in area.

Buyers can construct additional 1,000 square feet to 5,000 square feet depending on the size of their respective land plots.

Parvees Gafur, Chief Executive Officer, PropSquare Real Estate, believes the prices are "reasonable" considering the location and large plot sizes.

“Arabian Ranches is a premium community. Keeping in mind the plot sizes, the prices are seem reasonable."

The Arabian Ranches Golf Course, spread over 247 acres comprising 120 acres of grass land and desert vegetation, is part of the Arabian Ranches Golf Club.

The 18-hole, par 72-signature course was designed by Ian Baker-Finch in association with Nicklaus Design.

Nakheel, a Dubai-based company, has also announced plans to sell 102 beachfront townhouses on Palm Jumeirah from this month.

Although Cluttons, a real estate consultancy, said that the Dubai property market was still plagued by “oversupply”, Dubai was still a buyer’s market.

“Now with the return of accessible financing, sellers are now enjoying a high number of buyers in the market, therefore experiencing quicker sales,” the consultancy said.

In February, Marwan bin Ghalita, Chief Executive of Real Estate Regulatory Authority, said up to 16,000 new units will be released this year in Dubai.

"Another 15,000 to 16,000 (units) are coming in 2012. Most of this supply will be from master developers,” he said.

Follow Emirates 24|7 on Google News.