Lootah Real Estate Development said on Wednesday it has broken ground on the second phase of its AED350 million ($95 million) Shamal Community project in Jumeirah Village Circle, Dubai.
Following the completion and handing over of the first phase, work has begun on Shamal Residences, a cluster of 1,024 residential units that include 792 studios and 232 lofts.
The average size of each studio apartment is between 650-769 sq ft while each loft is 1,100 sq ft, the company said in a statement.
The second-phase of Shamal Community is scheduled to be completed by June 2016, it added.
Residents will also have access to a swimming pool, a gymnasium and a sauna.
Saleh Abdullah Lootah, executive director of Lootah Real Estate Development, said the launch was taking place at a time of “highly positive market sentiment due to investor friendly regulations introduced by the UAE regulator”.
Master-planned by Nakheel, Jumeirah Village Circle is a family-friendly development between two major highways – Sheikh Mohammed Bin Zayed and Al Khail roads.
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