Bloom to hand over 3,400 homes by 2020

dubai — Bloom Holding will deliver 3,400 apartments over the next few years across the UAE in both mid-tier and luxury segments, its chief executive Sameh Muhtadi said at Cityscape Global on Tuesday.

The group will deliver 250 units this year, 900 in 2018, 700 in 2019 and the remaining in 2020, Muhtadi said.

“Around 50 per cent of the units will be in the mid-tier segment while the other half in the luxury category. Most of the mid-segment units are coming in Dubai as there is more demand for such projects while the luxury properties are mainly in Abu Dhabi,” he added.

“We launched two towers at Cityscape with 650 units in Jumeirah Village Circle which saw better appreciation in values in recent times as compared to other areas where values witnessed a drop. Therefore, we preferred Jumeirah Village. In addition, we are developing two schools and a college,” Muhtadi said.

“Our participation at Cityscape Global 2017 provides us with an ideal platform to update our investors and home buyers on the construction of our developments. In addition to reaffirming our commitment to delivering all our projects on schedule and to the highest construction standards, we look forward to engaging with Cityscape visitors on opportunities to invest in our residential developments and our plans for the future,” he added.