Lootah launches Dh350m Shamal Community

dubai — Lootah Real Estate Development has announced the official launch of its Shamal Community development for sales at Jumeirah Village Circle.

With an overall project cost of Dh350 million, Shamal Community spans over 147,000sqf. The new development consists of the Shamal Terraces, a cluster of three bedroom villas with optional swimming pools; and the Shamal Residences, a mixture of high-end studio apartments and one bedroom lofts.

Saleh Abdullah Lootah, executive director of Lootah Real Estate Development, said: “2014 is a highly positive year for the UAE real estate industry, with improved performance across the majority of sectors. We are witnessing a cautious but massive investor interest and high demand for the quality lifestyle in our Shamal Community. Our tie-up with specialised partners is aimed at creating high quality and competitive residential offers to our valuable investors and occupants. We assure superior pre and post sales services and long term relationships.”

Lootah Real Estate has already delivered over 1,000 units to its

2014 is a highly positive year for the UAE real estate industry

occupants in Ewan Residences in Dubai, with many more planned for the future in other communities. The enabling tender has already been issued and the main construction package will be issued in May this year. The Shamal Terraces villa community is estimated to be completed within the next 15 months and the Shamal Residences, a townhouse community, in 20 months.

Ahmad Saeed, senior director of the construction supervision division of Arif and Bintoak, said: “Today is a milestone day for Arif and Bintoak and Lootah Real Estate Development. We see it a start of a new chapter in the real estate history of UAE. We have been given a huge responsibility of creating a futuristic, traditionally legendry and an impactful development at the heart of Dubai, which has become a hotspot for regional and international tourists, investors and residents.”