Saudi-Qatar joint venture launches luxury residences on Palm Jumeirah

The Alef Residences is a project by Saudi Arabia’s Al Sharq Group and Qatar’s Al Mana Global, prices start from $3.2m
Saudi-Qatar joint venture launches luxury residences on Palm Jumeirah
By Sarah Townsend
Tue 17 Nov 2015 11:35 AM

A collection of 104 luxury homes on Dubai’s Palm Jumeirah have been launched for sale by Saudi-Qatar joint venture Al Sharq Investment, it announced on Monday.

The JV between Saudi Arabia’s Al Sharq Group and Qatar’s Al Mana Global is building Alef Residences on a 46,840 square metre plot of land on the Palm’s West Crescent adjacent to a new W Hotel also developed by Al Sharq Investment.

The Alef Residences, serviced by W Dubai – will comprise eight clusters in two buildings with two apartments per floor and five penthouses at the top of each.

The apartments will range in size from 4,800 sq ft to 15,000 sq ft, and will be priced from between AED12 million ($3.2 million) and AED50 million.

Residents will also have access to a private members’ club with dining area, lounges, a gym, spa treatment rooms and a cinema.

The apartments have been inspired by Arabic design and feature high quality materials including the finest timber, marble, stone, and bespoke finishes, according to the developer.

They are surrounded by a tropical landscaped garden and 475-metre-long white sandy beach - the largest private residential beachfront location in Dubai, it added.

Alef Residences represents the first development under Al Sharq Investment’s The Alef brand, which is intended for expansion across the Middle East.

The apartments are scheduled for handover in the second quarter of 2017.

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