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Thu 5 May 2016 01:54 PM

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UAE's Bloom says 90% of new FAYA project sold out

Developer reports strong investor reaction to the fourth phase of Bloom Gardens project

UAE's Bloom says 90% of new FAYA project sold out

Abu Dhabi developer Bloom Properties has said it has sold 90 percent of FAYA, the fourth phase of its Bloom Gardens project, within one week of its launch.

FAYA was launched as part of Bloom's participation in Cityscape Abu Dhabi earlier this month, and is scheduled for completion in the fourth quarter of 2017.

FAYA will consist of a total of 132 townhomes made up of 28 four-unit clusters and four five-unit clusters.

Sameh Muhtadi, CEO of Bloom Holding, said: "The strong response and uptake for the fourth phase of Bloom gardens is a clear indication of the continued investor confidence in the projects developed by Bloom Properties.

"It also reflects the positive investor sentiment in the strength of Abu Dhabi's real estate market. The key factors that have contributed to the success of this project are its ideal location, its array of lifestyle amenities and the attractive payment plans.

"At Bloom Properties, we are committed to living up to the trust that has been placed on us by completing the project as per the schedule and in line with the highest standards in design, architecture and construction."

Bloom Gardens will also include a polyclinic, nursery and community centre, which is set to open this summer and will feature a male and female sauna and steam rooms, a multi-functional hall and a community mosque with the capacity to hold 200 worshippers.

The centre will also host a male and female health club, a gym and swimming pools for kids and adults.

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