Tecom Investments, a diversified conglomerate and a member of Dubai Holding, has launched a new freehold villa community featuring 440 properties close to its DuBiotech business park in Dubai.

The 'Villa Lantana,' project has been designed as two gated communities close to the Umm Sequim Road in Al Barsha South and is due for completion in the fourth quarter of next year, reported The National.

Tecom said the scheme would also include a shopping centre, sports centres, parks and playgrounds.

The company plans to start selling the three, four and five-bedroom detached and semi-detached homes early next month with prices starting at Dh2.375 million ($646,422), said the report, citing a top official.

“Currently, the demand is there for quality family villas in a good location. The project was designed to meet the demand for family homes located in the centre of new Dubai,” said Badr Al Gargawi, the chief executive for Tecom’s development and planning division.

Tecom Investments operates 11 Dubai business parks including Dubai Media City and Dubai Knowledge Village.