Nakheel sells 7opc of plots in Jumeirah Lake Towers

Seventy per cent of the 69 plots available under the Jumeirah Lake Towers development, located just off Sheikh Zayed Road, have been sold, confirming significant interest in the freehold venture from Nakheel. Negotiations are in an advanced stage for the remaining plots, added the promoters.

Encompassing residential, office and retail outlets, the Jumeirah Lake Towers will be set in 23 clusters and placed together in groups of three and set amidst crystal clear lakes and flowing waterways.

In total, the project located between Interchanges 5 and 6 will cover 1,144,579 square metres, with the man-made lakes covering an extensive 249,998 square metres.

Retail space will cover 80,281 square metres.

The first stage of the project — grading and earthwork - is well underway and this will be followed by three subsequent phases - infrastructure and excavation for the lakes, construction of buildings and car parks and finally landscaping.

Investors can choose to design their own tower or select from a range of designs proposed by Nakheel. The towers can be devoted solely to residential or commercial use or, if the investor prefers, a mix of residential and commercialf activities.

A 55-storey tower will form the centrepiece of the community and house further offices, a hotel and a gold and diamond centre. Additionally, there will be retail and restaurant outlets and carefully manicured gardens.

"An excellent and scenic location, top class facilities, a commitment to provide all of the important infrastructure and our close attention to the particular requirements of our customers are the reasons for this success," said Wahid Attalla, Nakheel's executive director of commercial and operations.