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Wed 10 Sep 2014 02:58 PM

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Park Investments launches first Dubai real estate project

Prices of properties at Park Villas in Jumeirah Village Circle will start at nearly $800,000

Park Investments launches first Dubai real estate project

Park Investments, a new UAE-based real estate investments company in UAE, said on Wednesday it is launching its first project in Dubai.

The company, part of a business conglomerate in Korea and the US has unveiled its AED270 million ($73.5 million) Park Villas project at Jumeirah Village Circle.

The project spans over a total area of 365,000 square feet, the developer said, adding that pre launch prices start at AED2.9 million ($789,545).

Construction work on the project has already started and is expected to be completed by the first quarter of 2016.

Park Villas will be located on a green belt within Jumeirah Village Circle, and will comprise 93 four-bedroom villas, each with a personalised lift.

The villa sizes range from 3,168 sq ft to 3,322 sq ft with an option for a swimming pool, the company said in a statement.

It added that it is offering buyers a payment scheme which allows purchasers to pay 50 percent until the completion and 50 percent after handover with an option of interest free instalments.

“Dubai Property market is buoyant once again with healthy and promising returns. The regulations in place by the Government now make both the developer and investors very confident of the future growth prospects. We felt it was the best time to enter the Dubai real estate and catch up with the momentum," said Parminder Singh Sehgal, executive chairman, Park Investments.

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