Developer hands over homes in $40m Dubai residential tower

Shaikhani Group announces handover of 100 units as it progresses with construction on five projects
By Staff writer
Sat 10 Jun 2017 10:18 AM

Dubai-based developer Shaikhani Group has announced the handover of 100 units of Champions Tower 1 to its customers.

Families are in the process of moving in after getting the necessary no-objection certificates from the concerned departments, the developer said, adding that so far as many as 48 families have moved in.

The group announced the delivery of 135 units in the AED150 million ($40.8 million) Champion Tower I in February. The delivery of these units follows the handover of 224 units last year, raising the number of deliveries to 359 apartments in a year.

The group said in a statement that it currently has five projects that are under construction, including three in Dubai Sports City and one in Jumeirah Village Circle. They are yet to award any contracts this year.

“As a customer-centric responsible property developer, we continue to try to exceed our customers’ expectations. That’s why delivery of projects is very important to us. We are targeting the handover of three projects by the end of 2018,” said Mahmood Shaikhani, managing director of Shaikhani Group.

The 15-storey Champion Tower I has 49 studios, 50 one-bedrooms, 30 two-bedrooms and six three-bedrooms and is also equipped with a swimming pool, spa and gymnasiums.

The Shaikhani Group has three other freehold mixed-use developments planned for Jumeirah Village South. These include Gardenia Residency, Gardenia Residency III, and Gardenia Residency IV.

Shaikhani Group is developing a total of 11 projects that will deliver 2,100 residential and commercial units in Dubai Sports City, Jumeirah Village Circle and Dubai Silicon Oasis.

Of these, the company said it is in advanced stage of completion of AED1.5 billion worth of projects involving 1,250 units while the rest are at the beginning of the development cycle that are expected to be completed by 2020.

Four of these projects will be located at the Jumeirah Village Circle while one in Arjan at Dubailand.

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