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Tue 21 Feb 2017 12:27 PM

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Dubai Properties launches new project amid increasing demand

La Quinta is the second phase of its Villanova residential master community in Dubailand

Dubai Properties launches new project amid increasing demand
Marwan Al Kindi, executive director, sales and sales operations at Dubai Properties.

Dubai Properties (DP) has announced the launch of La Quinta, the second phase of its Villanova residential master community in Dubailand, amid increasing demand for larger, family-style homes.

Following a positive response from investors after its launch last year, Dubai Properties said Villanova residential community meets an increasing demand for more spacious homes in Dubai.

With investors increasingly attracted to the higher capital gains and rental yields of Dubai, the city consistently provided yields above 7%, compared to the 4.5% average of six other expat cities, including Moscow, Sau Paulo, Manila, Shanghai and Hanoi, according to a REIDIN report.

ValuStrat data highlighted that villa specific transactions were up by 22% in the final three months of 2016, suggesting a strong demand in this category.

Marwan Al Kindi, executive director, sales and sales operations at Dubai Properties, said: “The success of the premium, larger villa category at Villanova reflects DP’s deep understanding of the verifiable market needs and our commitment to providing the type of residential destinations that support the creation of a healthy real estate market in the Emirate.”

La Quinta at Villanova offers premium three, four, five and five plus- bedroom independent villas, designed as ‘Cluster Homes’ and large standalone villas with full amenities including shaded car parks and additional outdoor area.

The master community will also include a pool house, children’s play areas, BBQ zones, picnic lawns and basketball court, as well as other community-wide facilities like mosques, retail outlets with outdoor seating and more.

Dubai Properties launched the first phase of Villanova, Amaranta and Mudon in 2016.