Windsor handover in few weeks

Dubai-based Al Shafar General Contracting (ASGC) said work on Windsor Manor – a 28-storey luxury residential tower in Business Bay – has been completed at a cost of Dh620 million and handover is expected to begin next few weeks, said a press statement on Monday.

The tower - comprising of a ground floor, four parking levels and 24 storeys - has been conceived and designed by Deyaar. Windsor Manor houses 338 luxurious apartments including 1, 2, 3 bedroom and duplex 1 and 2 bedroom units with lake and landscape views.
 
Work began on the tower in last quarter of 2007 and took nearly two and a half years to complete. The company said 50 per cent of the project has already been sold out and the handover is expected to start in the next few weeks. The building is now open for viewings by appointment only.

Bishoy Azmy, CEO of ASGC said: “Windsor Manor is a prestigious address that is endowed with exceptional style and comfort. It is all about exclusivity and has a wow factor that makes it a great place to live.”

According to industry experts property prices are beginning to stabilize lately with only a slight drop in the last few months. Despite the slide, the house price index for Dubai shows a seven per cent increase in overall house price values year-on-year from Q2 2009 to Q2 2010.

“In the last 12 months we have seen the index moving only 1.8 per cent from the average value of 115 index points indicating a measure of stability over the past year. This is mainly because a large number of projects scheduled for completion this year have been delayed. Winsor Manor is a self-contained development that offers compelling opportunities for buyers. These days purchasers are not buying to trade but to hold for the long term. Certainly those who buy the property now will be sitting on a huge profit,” Azmy said.