Properties Investment, a joint venture of Dubai Investments and Union Properties, has announced plans to hand over 134 townhouses and 16 duplex apartments in stage 2 and 3 of its Green Community Dubai Investments Park – West Phase III project, by the end of 2017.

The project, covering an area of 1.48 million sq ft, comprises 210 townhouses, including 122 four-bedroom and 88 three-bedroom townhouses, 16 duplex apartments, retail units, recreational centres, swimming pools, squash court and landscaped areas. A total of 76 townhouses were handed over in stage 1 in July 2017.

Stage 2 will include 100 townhouses with expected handover in October 2017; and stage 3 handover, comprising 34 townhouses, 16 apartments and three retail units, will be completed by the year-end. The project model is being showcased at Cityscape Global 2017, which opened in Dubai today.

Dubai Investments owns 70 per cent of the joint venture, while Union Properties owns 30 per cent.

Meanwhile, Properties Investment has announced plans to develop two residential buildings and the expansion of The Market shopping arcade within the Dubai Investments Park. The two projects, covering a total built-up area of over 480,000 sq ft, are expected to be completed by the third quarter of 2019.

The two residential buildings with ground plus four floors will offer 115 units. The Market shopping arcade expansion will feature 200 retail units including new food courts, plus six cinemas, covering 65,000 sq ft.

Dr Rashid Abdulla Al Haji, general manager of Properties Investment, said: “In line with the increasing demand for the Green Community DIP – West Phase III project, Properties Investment is committed to complete the project handover on schedule. Given its strategic location, the demand for the remaining units in the project is expected to surge in the coming months.”

The Green Community – West Phase III project will be connected to the Route 2020 Metro link, creating ease of access in the area around Dubai South and to the rest of the city. Properties Investment is also offering payment plans that span from two to eight years of in-house financing from the developer, circumventing the need for a mortgage provider, added Dr Al Haji. – TradeArabia News Service