The Binghatti Platinum mid-rise building in Dubai Silicon Oasis will be completed on time, the developer has said.
Dubai-based Binghatti Developers' $40.8m (AED150m) mid-rise residential building, Binghatti Platinum, is on track to be delivered in January 2019.
Two basement levels and four floors of the 13-storey structure, which is located in the emirate's first master planned smart city development, have been built so far.
Binghatti Platinum features amenities including a heat-controlled swimming pool, a gym, children’s play area, a public terrace for residents, and four shops.
It is one of a cluster of mid-market Binghatti projects in Dubai's Silicon Oasis community, including Binghatti Stars and Binghatti Crystals. In total, 981 units are being developed by the company in the smart city complex.
Chief executive officer and head of architecture at Binghatti Developers, Muhammad BinGhatti, said he was "pleased with the progress of construction" at the 170-unit project that has 99 studios and 71 two-bedroom flats.
"We have reached a business model that suits all customer segments, including real estate investors, as our speed of project delivery allows investors to realise investment returns in record time through leasing or reselling," he said.
"The centrally located community of Silicon Oasis has proven to be an excellent area for both end users and investors seeking long term rental returns thanks to its plentiful facilities and amenities, as well as its proximity to major landmarks in Dubai".
Binghatti's top "priority", he said, continues to be delivering middle class-targeted real estate projects on time in Dubai.