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Nakheel launches 418 new homes with development value exceeding Dh1.24 billion
Nakheel, the master developer of the world’s first palm-shaped man-made islands off the coast of Dubai, said, it will develop Murooj Al Furjan, a residential community of 418 villas at Al Furjan, one of its largest, most popular mixed-use developments in Dubai.
Prices of villas start from US$790,000 (Dh2.9 million) apiece. The announcement comes at a time when oversupply in the housing market is putting property prices under pressure. However, renewed interest in international investors are encouraging developers to roll out properties to benefit from the surge in sales.
With an average base price of Dh3 million per villa, the development value of the project could exceed Dh1.25 billion (US$342 million).
Nakheel is credited for developing some of Dubai’s large neighbourhoods, since its establishment in 2002, such as International City, The Gardens, Discovery Gardens, Jumeirah Lake Towers, Jumeirah Park, Jumeirah Village Circle, among others.
Spanning five million square feet across two new, gated communities, Murooj Al Furjan phase one comprises 314 four-bedroom villas and 104 five-bedroom villas set among extensive landscaped green space and scenic walkways, with a host of onsite sports and leisure facilities for residents.
Each home provides quality, family accommodation, with modern finishing, floor to ceiling windows, expansive living space, ensuite bathrooms, maid’s quarters, private garden, garage with a charging point for electric vehicles, and its own supply of piped gas.
Located in central Al Furjan, Murooj – meaning ‘green fields’ – is close to the retail Pavilion, Al Furjan Club and the Dubai Metro station, with easy access to and from Sheikh Mohammed Bin Zayed Road, Sheikh Zayed Road and Ibn Battuta Mall. Construction is anticipated to begin this year, with completion in 2024.
A Nakheel spokesman said: “Al Furjan is a thriving, vibrant community, thanks to its strategic location and diverse, ever-growing range of amenities. We continue to witness strong demand for quality, family homes, and anticipate a positive response to Murooj Al Furjan as investors seek more indoor and outdoor living space, with unrivalled facilities on their doorstep.”
More than 1,700 Nakheel customers have already invested in Al Furjan, which spans 560 hectares and has a current population of 26,000. Murooj Al Furjan will complement the existing 1,700 villas and townhouses and 2,800 apartments at the community.
With built-up areas of up to 4,042 sq ft, Murooj Al Furjan’s four and five bedroom villas feature a large entrance foyer; expansive living and entertainment areas with floor to ceiling windows; open/closed kitchen options; maid’s room; ample storage space; garage with parking for three vehicles; private rear garden and landscaped front and side areas. The five-bed homes also have the option of a driver’s room.
The master bedroom has a walk-in dressing area, five-fixture bathroom and shaded balcony, with ensuite bathrooms and built in wardrobes in all other bedrooms. There is also a first floor family room, pantry and study area.
The Murooj Al Furjan master plan includes more than a million sq ft of communal space, with parks, tree-lined walkways, three swimming pools, a children’s pool, shaded children’s play areas, tennis and basketball courts, jogging tracks and family picnic and barbecue areas.