Jumeirah Golf Estates to develop affordable homes

Jumeirah Golf Estates to develop affordable homes
Jumeirah Golf Estates is home to the Race to Dubai, the last golf tournament in the European Tour.
Published: 13 May 2015 - 2 a.m.
By: Neha Bhatia

Jumeirah Golf Estates has announced that it plans to construct a mid-market development comprising of townhouses, apartments and a community centre around its Greg Norman designed championship golf courses, home to the annual Race to Dubai - the season ender to the European Tour.

The development, AlAndalus will contain 550 one, two, three, and four bedroom apartments; and 75 two, three, and four bedroom townhouses. Prices will start at $162,530 (AED597,000). The development will also feature retail, hospitality and food & beverage outlets.

Jumeirah Golf Estates is also set to unveil a new masterplan for phases 2 and 3 of the development in 2016, it said in a statement.

The company reported profits of 68% in 2014 compared to 2013, closing at $117.1m (AED 430m). Yousuf Kazim, CEO of Jumeirah Golf Estate said the company launched AlAndalus in light of the recent upsurge in Dubai’s affordable housing segment.

"Taking note of strong demand for mid-market homes, the launch of AlAndalus creates an even more diverse real estate proposition within Jumeirah Golf Estates, meeting the needs of a sizeable, growing and captive market of buyers."

 

 

 

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