Seven Tides appoints main contractor for largest residential development in the region, Seven City JLT
Seven Tides has appointed UAE-based Airolink as the main building contractor, to complete the construction of its Seven City JLT development in Jumeirah Lake Towers, in Dubai.
UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has appointed UAE-based Airolink as the main building contractor, to complete the construction of its Seven City JLT development in Jumeirah Lake Towers, in Dubai.
Airolink was founded in Ireland in 2001 and expanded into the Middle East in 2008, with offices in Dubai and Abu Dhabi. The company has worked on many prestigious projects over the past twelve years in the educational, commercial, retail, residential and hotel sectors.
Commenting on the appointment, Abdulla Bin Sulayem, CEO, Seven Tides, said: “Airolink is well established, has a solid reputation along with a wealth of experience across numerous sectors, which is ideal for this development. Work is well underway on site and we are already working with Airolink at our Seven Palm development on Palm Jumeirah, so this should be a smooth transition.”
The project is valued at over AED 1 billion and due for completion in Q2 2023, Seven City JLT with a total built up area of up to 3.5 million square feet and situated within Cluster Z in DMCC, opposite the Montgomery and Emirates’ golf courses and the Emirates Hills community.
With easy access by road and also close to the Dubai Metro, the development is made up of 2,744 units – with its residential element consisting of 2,617 studio, one, two and three-bedroom apartments, plus 78 hotel rooms.
The striking design sits upon a common podium, which plays host to promenade restaurants overlooking a lake. The tower also features a fully equipped gym, health club, infinity pool, children’s pool, 12 Sky Gardens, cafes, plus other dining options.
The development also features a large retail offering with 49 retail units, covering 150,000 sqft over three floors, which will include a 3-screen cinema, hypermarket, as well as 2,617 car parking spaces, with an additional 312 spaces dedicated to retail customers, including valet.
At the initial launch of the project, phase one of the residential units was completely sold out in less than a week and the remaining units will be offered to the market in due course.
“We are offering excellent value at a competitive price point. In addition, we offer a very attractive easy payment option consisting of a 5% deposit, followed by payments equal to 6% of the cost price to be paid every subsequent quarter. We estimate that studios should yield 12% per annum,” said Bin Sulayem.
Studio apartments start from AED 384,888, ranging in size from 384sqft to 416sqft, while one-bedroom apartments start at AED 723,888 and range in size from a minimum of 734sqft to a maximum of 890sqft. Prices of two-bedroom apartments start at AED 1,106,888 and the size is 1,073sqft. Finally, the entry price for three-bedroom apartments starts at AED 1,677,888, covering 1,516sqft of space.
Bin Sulayem, added: “Seven City JLT is designed to provide everything a resident might possibly want, with various retail options, entertainment, food and beverage outlets, gym and a health club. However, when residents do venture outside, they’ll still be able to enjoy the urban vibe, with the excitement and fast-paced, hustle and bustle of city life, right on their doorstep.”
