Al Waleed Announces Development of Two Residential Projects

Al Waleed Real Estate, the development arm of Al Waleed Investment Group, today announced that construction work at its two new residential projects in Dubai's Jumeirah Village and Silicon Oasis will be completed during the fourth quarter of 2015.  

Located in Jumeirah Village, the first project named Al Waleed Residence Building comprises one-bedroom and two-bedroom units as well as duplex villas. The development contains numerous community facilities, including a swimming pool, state-of-the-art gym, green areas and car parking spaces.

Al Waleed Residence Building covers 99,485 sq. ft. and is located in a total land area of 25,634 sq. ft. The final handover deadline of the development will be determined at the end of August 2015, with selling of residential units to commence soon at competitive prices. 

Al Waleed Oasis, Al Waleed Real Estate's second project, which is located in Dubai Silicon Oasis, is a seven storey development comprising contemporary one-bedroom, two-bedroom and three-bedroom apartments. Its amenities include a swimming pool and modern gym.

Strategically located in Dubai Silicon Oasis, Al Waleed Oasis project is built on land area of 19,320 sq. ft. and has a total building area of over 119,000 sq. ft. The project is on course for handover at the beginning of December this year.

"Al Waleed Real Estate is taking carefully-considered steps in the field of property investment and development. It is undertaking these in line with industry performance and the current status of Dubai's real estate market, which is characterised by fierce competition between developers. The company has succeeded in attracting a large segment of buyers and investors to its distinctive projects in strategic locations across Dubai,” said an Al Waleed spokesperson.

"These two new projects will soon be added to Al Waleed Real Estate’s expanding property portfolio in various development areas of Dubai's real estate sector. They demonstrate the company's keenness to cater to the demand for real estate products, which is expected to grow in the next five years as we run up to Expo 2020,” he added.