Dubai: Is Uptown District the new high-rise hub in Dubai? Sure looks like it as the Uptown Tower basks in the limelight and new ones are launched around it.
Ellington Properties has launched its second and third projects there, located close to the JLT cluster, after drawing impressive sales numbers with the first one, the ‘UH by Ellington’.
The latest, called Mercer House, adds to the luxury apartment mix, and will include four penthouses. The height and the ground plus storey numbers have not been revealed, but Mercer House’s twin towers will share a podium. There will be a 25,000 square feet ‘beach club’ and a substantial 25,000 suare feet of retail options.
"In just two decades, DMCC has not only built and facilitated a world-class, award-winning district for trade and enterprise, but evolved the JLT and Uptown Dubai districts into some of Dubai's most desirable destinations,” said Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC.
Much of the buzz has obviously centered on the 329 metre Uptown Tower, currently notching up multiple milestones. Even before its launch, it was designated as Dubai's next big commercial address to be. Once the construction hit its stride, DMCC, the master-developer, created a buzz around the wider 'district' itself. What it did was open up the real estate mix to more than just residential, offices and retail.
JLT's doing fine
The sister development, JLT, is getting its own demand and share of new projects. "JLT itself has seen 15-20 per cent value gains, but continues to tap into sizeable investor demand," said an estate agent. "The recent launches and the high visibility of hotels there have all helped."
The same theme is now playing at Uptown District...
More to follow...