Eastern Residence, announced at the Dubai Property Show in Shanghai will have 680 villas, in addition to hotel apartments announced as part of its Pyramids Park project
Falcon City of Wonders (FCW) has announced a new villa development as it looks to attract investment from Dubai’s growing cache of ‘silkroad investors’.
At the recent Dubai Property Show in Shanghai, FCW announced its Eastern Residence development, a five- and six-bedroom gated villa community that will also encompass designs for its Pyramids Park development announced earlier.
FCW’s Eastern Residence will have 680 LEED Gold certified villa units with prices starting at AED 3.1 million ($846,000) and offering a return on investment of 16.88 percent, according to estimates by FCW.
The developer is pitching its Pyramids Park project as one that will have 4,651 serviced hotel apartments housed in three structures, the largest of which will be the largest pyramid ever built. The smallest of the three structures, SAM Vega, is expected to complete construction before Expo 2020 Dubai.
With more than 300 companies and 5,000 brands from China in Dubai, FCW is looking to attract investors looking to make the most of China’s ambitious ‘New Silkroad’ plans called the One Belt One Road (OBOR) initiative.
“The broadening and deepening of bilateral economic ties position Dubai as China’s gateway to Africa and the Middle East,” FCW’s release at the three day event held in Shanghai until 2 September read.
“The impact of China’s OBOR has been phenomenal for Dubai as the number of visitors, from China has grown from 400,000 to 760,000 annually,” it added.For all the latest real estate 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.