Business | Property
Maison begins luxury boutique tower in Downtown Jebel Ali
hong kong developer's dh860m jebel ali complex will be completed by 2011
- By Nadia Saleem, Staff Reporter
- Published: 23:33 June 23, 2008
- Image Credit: Supplied picture
- Thirty per cent of the project has already been sold, and officials expect the remaining 40 per cent to be sold soon.
Dubai: A Dh860 million residential project was launched on Monday by the Hong Kong-based developer Maison Limited.
The first of a collection for the company, this 17-floor boutique tower will be located in the fourth phase of Downtown Jebel Ali, and will be the "gateway to Dubai on approach from Abu Dhabi," according to an official statement.
The project will have a land area of 45,030 square feet and provide a gross built-up area of 283,247 square feet, reports say.
Shaye'e Shamszadeh, managing director of Maison Limited UAE, told Gulf News that the pricing will start from Dh3,100 and go up to Dh3,700 per square foot.
The tower will consist of 70 lofts, 17 two-bedroom apartments, eight three-bedroom apartments, four terrace penthouses and three ultra penthouses.
Apartment costs
He also said that the average price for a loft is Dh5 million, a duplex two-bedroom apartment is Dh10 million, a duplex three-bedroom apartment is Dh14 million, a terrace penthouse is Dh24 million and the ultra-collection triplex penthouses are priced at Dh45 million.
Construction will start in the second quarter of 2009, and handover will begin in the last quarter of 2011, officials said.
Thirty per cent of the project has already been sold, and officials expect the remaining 40 per cent to be sold soon.
"With the interest we've seen in the past two days, we will sell the project out completely in three to four weeks," Shamszadeh said.
A unique aspect of the tower, Shamszadeh said, is the floor-to-ceiling height of up to seven metres.
"This residential building has attention to detail," Shamszadeh said.
He was referring to the principles of Feng Shui applied to the furnishings and light in the building and the selection of natural materials for the façade and stained glass skylight with themed landscapes for the Zen and Japanese gardens.
Maison is in the process of choosing a contractor and they "will be on board by December," Shams-zadeh said.
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