Nakheel upbeat on Legacy villas

15% down payment and rest in easy installments over next 3years

Nakheel, Dubai-based master developer, expects a sell-out of 360 four- and five-bed Jumeirah Park Legacy villas, public launch of which was held on Monday.

“We expect to sell all our villas today itself… there is a huge demand for it,” Nakheel Chairman Ali Rashid Lootah told ‘Emirates24|7’.

A number of investors have been queuing outside the Nakheel sales office since Sunday with those standing with token expecting to get hold of at least one villa.

MA, who just gave his initials and was invited as a VIP client, told this website that he had purchased two five-bed villas for price between Dh4.9 million and Dh5m.

“The location of the project is really good… moreover, we are happy with the payment plan, which is 15 per cent down payment and the rest in easy installments over the next three years.”

Saleem, an investor, who has been standing in queue since early morning, says: “We have been told that we will be allowed only after the VIP launch is over. Seeing the number of VIPs coming in, I don’t think I will get any unit.

Although he declines he will not flip the unit, he is ready to transfer it if he can get a 10 per cent premium.

Nakheel executives said they would shortly be announcing contractor details and completion date of the project.

EARLIER STORY: Nakheel launches Jumeirah Park Legacy villas

Nakheel, Dubai-based master developer, on Sunday announced the launch of Jumeirah Park Legacy villas, which are part of the 350-hectare master community that comprises 2,000 villas.

In a statement, Chairman Ali Rashid Lootah, said: “Nakheel is transforming a large expanse of desert into a vibrant group of communities which combine premier location with quality living.”

Earlier this year, Nakheel launched the Palm Residence and Palm Views East and West on the Palm Jumeirah.

Jumeirah Park, located next to the Jumeirah Islands community, offers three distinct styles of villas: Legacy, Regional and Heritage.

The Legacy type villa have a large open hall overlooking the back garden and closed kitchen with the ground level having a guest room while four bedrooms, each with its own terrace, are on the first floor. Each villa is designed with closed garage for two cars and a large backyard garden.

Residents will have access to a range of shops and services within the development, including a community shopping centre, restaurants, mosques, school, police and fire stations and landscaped gardens.

Nakheel did not mention prices of the villas. However, four-bed Legacy villas are listed for sale in the secondary market between Dh4.2 million andDh5 million.

In July, Nakheel signed a Dh27.5 million contract for the construction of the new 10,600 sq metres Jumeirah Park Community Centre.

Parkway International Contracting has been appointed the main contractor for the community centre, which will primarily serve 4,200 homes in Jumeirah Islands, Jumeirah Village Triangle and Jumeirah Park. Construction is expected to be completed in 12 months.

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