Khalaf Ahmad Al Habtoor, chairman of the Al Habtoor Group has announced that the completion of three residential towers at Al Habtoor City is scheduled for the second quarter of next year.
Al Habtoor also forecast that the sale price per sq ft for The Residence Collection will rise in the next few weeks as real estate prices recover from their recent slowdown.
The Residence Collection within Al Habtoor City consists of 1,460 apartments ranging from 1 to 7 bedrooms, including loft-style units and penthouses, including ultra-luxury VIP penthouses spread over four floors and boasting 360 degree views of the Dubai skyline.
Khalaf Al Habtoor said: "The Residence Collection at Al Habtoor City is the epitome of luxury living in Dubai and the most desirable lifestyle destination in the UAE. I anticipate the prices to increase as we are not a project selling off-plan. We are not selling sand.
"We have started the sale when construction was already underway and all of our buyers are invited to preview the apartments. We anticipate all three towers to be fully completed by end of the second quarter of 2017.
"We have already reached 45 floors, surpassing the of 41-storey Westin Dubai, Al Habtoor City hotel, the tallest of the three hotels within the Hotel Collection."
He added: "The residential project's location and amenities are second to none. Al Habtoor City is the new centre of Dubai in an unparalleled location. We will be the first project to be completed right on the banks of the Dubai Water Canal."
Earlier this year, he revealed that the luxury residential towers will be named after his daughters.
The three luxury residential towers will be named Noura, Amna and Meera.
Residents will have access to all Al Habtoor City’s amenities which include the largest swimming pool podium in the UAE, a gym and luxury spa, signature restaurants, gourmet café and boutiques.
The Al Habtoor Group will be showcasing Al Habtoor City and the Al Habtoor Polo Resort and Club at Cityscape Global, the region's largest real estate exhibition to be held in September.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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