Dubai: Nakheel has announced that it is offering some of its International City units for lease.
The project, which started construction in 2003, has been handing over buildings to owners since October 2006, with residents moving into allocated units.
The management of International City is offering 115 buildings with over 6,500 units for leasing in phases.
The first phase will comprise of more then 600 residential units for immediate leasing. The annual rent will start at Dh31,000.
International City General Manager, Rashid Al Helli, said: "Nakheel realises that the middle income real estate market segment is witnessing pent-up demand. There is need to offer options for middle income families and individuals looking to rent residential property."
International City was developed to address that demand, and has proved extremely popular with investors and homeowners alike, said Al Helli.
"We have been handing over buildings to investors since October, and residents are already moving into their apartments," he added.
International City combines commercial, residential, and retail interests. The project has attracted strong interest from local, regional and international investors, including retail giants, multinational companies, real estate developers, regional and international commercial businesses, property investors and homeowners.
International City covers a eight million square metres of land, located just 12 kilometres from Dubai International Airport in the Al Warsan area of Dubai. The project combines residential and commercial elements.
Nakheel designed international City to be a world class hub for international investors, traders and retailers from across the globe and also offer unique themed residential areas.
International City combines differently themed commercial and tourism elements that reflect a diversity of cultures from around the world.
