Nakheel launches first residential project in Dragon City
Prices at Dragon Towers will start at Dh449,000, set for completion in 2021
Dubai
Sales open on Sunday at the Dragon Towers in Dubai, with Nakheel pricing entry level units from Dh449,000. The twin-towers are the first residential component at the developer’s Dragon City cluster, which also features Dragon Mart.
Aiming for completion in 2021, Dragon Towers on the Hatta-Oman road will be linked by a covered bridge to Dragon Mart and its 5,000 shops. They are 37 storeys apiece, each with 571 one- and two-bedroom apartments. Two floors are dedicated for retail options, four parking levels and a six-floor podium level Clubhouse with a 25-metre swimming pool.
Around 130,000 new residential units are currently under construction in Dubai, and potentially scheduled to enter the market by the end of the decade, according to figures from CBRE. The top five locations for future supply include Dubailand, Mohammad Bin Rashid City, Dubai Creek Harbor, Jumeriah Village Circle/Triangle and Dubai South.
“While the downward trend in residential sale prices has continued in the first-half of 2018, it has not dented the spirit of developers who are continuing to offer advantageous payment plans and incentives,” said Simon Townsend, Head of Strategic Advisory, CBRE M. E.