Dubai developer Nakheel has launched plans for townhouses and a waterfront recreational area at its Jumeirah Islands project.
The company announced it is to build a total of 84 townhouses and a 608,000 sq ft waterfront recreational area, with construction set to start by the end of this year.
It added in a statement that 40 percent of the four bedroom townhouses at Jumeirah Islands have already been sold, with a sales value of AED140m.
Prices range from AED3.95-4.86m, depending on plot size, location and view, Nakheel said. The gated community also includes a large swimming pool, it added.
Nakheel also announced plans for Jumeirah Islands Park which it said will provide a "new leisure, dining and shopping hub for Jumeirah Islands and surrounding areas".
The project comprises communal parkland and a community centre featuring 10 retail outlets including a supermarket, four food and beverage outlets, a fitness centre, sports courts, jogging track and ample parking.
Construction of the park, recreation centre and townhouses will begin in Q4 of 2013, with a two-year timeline, Nakheel said.
In April, the indebted developerreported a 36 percent rise in first-quarter net profit, boosted by delivery of long-delayed units to customers.
The state-owned property firm reported a profit of AED491m ($133.4m) in the quarter compared to a profit of AED362m in the corresponding period in 2012.
Revenue for the first quarter was AED2.2bn, up 62 percent from a year earlier.
Nakheel delivered 770 homes in the first quarter and is on track to deliver an estimated 3,000 units in 2013, it said.For all the latest business 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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