Dubai: Residents of a three-tower development in International Media Production Zone (IMPZ) say the community is now more self-contained as a number of retail outlets have opened here.
Lago Vista is a three-tower residential development designed around a crescent shaped portico. Each tower has over 300 apartments Tower A and C have 21 floors while Tower B has 24.
Lago Vista is flanked by Lakeside Residence Towers and Crescent Towers.
No mosque
Facilities in buildings include swimming pool, gymnasium, barbeque and children’s play area and games room. There are two convenience stores -- Carry Food and Star Mart -- in Tower B besides a restaurant, café and pharmacy.
“We have everything except a mosque in IMPZ. The nearest mosque is in Dubai Sports City, which is five kilometres away. They must consider building a mosque here,” said Hassam Zafar, a resident.
Areas close to IMPZ are Dubai Sports City, around 5 km from Lago Vista and Motor City, around 12 km from Lago Vista. Connectivity from the area is via two arterial roads -- Shaikh Zayed Road and the Mohammad Bin Rashid Road. “Most people take the latter option as it also connects them to Al Khail Road easily.”
Rents range from Dh85,000 for a 1,400 square foot two-bedroom apartment and Dh45,000 for a 400 square foot studio with parking. A slightly bigger studio of 520 square feet with one parking goes for Dh55,000. The apartments are also on sale with a studio apartment costing between Dh435,000 and Dh540,000 and a one bedroom for Dh1 million to 1.2 million.
Easy connectivity
“Prices depend on the floor area of the apartment and whether it is furnished and comes with parking spaces. As for the demand, it is quite high due to prices being low, the easy connectivity to Dubai’s arterial roads and the future development plans in IMPZ,” said Olga Chudnovska, sales executive for Magnus Real Estate Brokers.
The surrounding area of IMPZ is expected to get a facelift soon. According to Tecom, the master-developer of IMPZ, two residential projects will be handed over this year. Publishing Pavilion, a nine storey building on 267,191 square feet and Makateb, a multiple tower development are under construction.
Keeping in mind a growing population in IMPZ, Majid Al Futtaim Properties is also building a one million square foot mall near Lago Vista. “The new mall will greatly add to our convenience as most of us go to Ibn Battuta or Mall of the Emirates to shop. We have also been told that there is a huge lake and park coming up just in front of Lago Vista. When this is done, this area will look very beautiful,” said Diana Atamkulova, a resident of the Lago Vista Tower B.
What is IMPZ?
The International Media Production Zone (IMPZ) is a free zone and free hold area that caters to media production companies. It is located on the outskirts of the city along the Mohammed Bin Zayed Road.
