Staff Report
Dubai, UAE
National Properties, a subsidiary of National Bonds Corporation, launched a Dh1 billion residential real estate project, named 399 Hills Park, to be built and delivered at the Dubai Hills Estate by the fourth quarter of 2025, company officials said at a press briefing in Dubai.
Once completed, 399 Hills Park will deliver 399 apartments, a few retail units, 682 car parks and lifestyle amenities, health club, swimming pool, garden and plenty of rooms for community activities within the property at Dubai Hills Estates – the new up-market community in Dubai located on Al Khail Road that has all the necessary facilities – shopping mall, landscaped environment, schools, clinics, hospitals, commercial properties and easy access to the main highways of Dubai.
Lacasa Architects and Engineering Consultants are the project consultants. Tender for the main construction package has already been floated for which contractors are currently submitting the bids.
“We hope to appoint the main contractor to start site mobilising in the next few months and we hope to deliver he property before the handover time,” Mohammed Qasim Al Ali, Group Chief Executive Officer of the National Bonds Corporation, said in response to a question by Gulf Property.
“In order to make it convenient for the buyers, we are offering 40 percent payment plan during construction and 60 percent on handover. Buyers who need to finance the balance 60 percent before handover, can get mortgage from local financial institutions for ready properties.
‘‘We invest in well-developed areas to reduce the risk of investment, and that is our major concern as an investment company.
“As a reliable and trusted developer supported by the AED 13 billion investment portfolio contributed
by more than 800,000 Bondholders, we take immense pride in delivering excellence and fulfilling our
commitments.”
Price of homes within the project, with 1 million built-up area, starts at Dh1,700 per square feet. Price of the smallest residential units – 1-bedroom hall apartments – start from Dh1.5 million for a 915-square feet flat.
The size of two-bedroom apartments starts at 1,411 square feet while three-bedroom apartments range from 2,007 to 2,459 square feet – which is way higher than the size of comparable apartments.
Mohannad Alwadiya, CEO of Harbor Real Estate, said, “National Properties builds homes for using, not for re-selling in the market for quick profits. That’s why their properties are spacious and comes with lots of amenities.”
While designing the amenities, the element of Sharia law is also not ignored. Steam and sauna are separate for men and women.
‘‘Functionality, privacy, and uniqueness—we have kept all of the elements in mind while designing this project. As an architect, we are proud to work with national properties, as we took this project as a challenge with other developers in the whole Middle East region, not just Dubai, and we love challenges. 399 Hills Park is a luxurious, smart, sustainable, and earthquake-resistant project.” Emad Jaber, CEO of LACASA Architects & Engineering, said.
National Properties has delivered over 3,200 residential apartments, luxury villas, and retail units and has developed several projects, including Casa Familia, Casa Flores, and Al Andalusia.
