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19 February 2017

Dubai, UAE, 19 February 2017: Jumeirah Golf Estates, the leading residential golf community, is pleased to announce that its Alandalus Townhouses sold out within a remarkable three hours of release onto the market.

Following the announcement of the availability of mid-market Townhouses last week with a starting price of AED 1.3million, Jumeirah Golf Estates welcomed local and international buyers at the development on Saturday to officially release the Andalusian-themed townhouses onto the market.

Yousuf Kazim, CEO of Jumeirah Golf Estates, said: “The real estate sector in Dubai remains strong and presents a great value proposition for investors seeking high rental yields and capital appreciation. We are confident that 2017 will be a positive year for Jumeirah Golf Estates, as well as the real estate market in Dubai, given that there is an increase in demand and appetite for mid-market homes in the lead-up to EXPO 2020.”

According to leading real estate consultancy CBRE, a modest improvement is expected in the performance of the residential transactional market in 2017. With only 25% of the affordable-luxury apartments as part of the community remaining on the market, Alandalus – Jumeirah Golf Estates affordable luxury community – has received an overwhelming response from investors since its introduction in 2015 and Jumeirah Golf Estates anticipate a successful year ahead in the lead up to the EXPO 2020.

“The overwhelming success of the Alandalus Townhouses with a three-hour sell-out is proof of our mid-market appeal for residents, local and international investors and we are seeing great interest from end-users and investors alike. We will continue to push ahead with our fast-paced development and our strategic sales efforts to leverage global real estate investors’ interest in Dubai,” Kazim added.

The Alandalus Townhouse gated community features a collection of two and three-bedroom homes and has been carefully designed to feature clear defined open spaces flooded with natural light, combining modern and traditional Andalusian materials for a sophisticated, functional and comfortable space.

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Each townhouse will have a private outdoor terrace including an optional plunge pool and patio area – an essential element for family living and sociable lifestyle – complementing the surroundings that include fascinating water features, breathtaking landscaping of Mediterranean olive and citrus trees.

The townhouse development is expected to be completed in September 2018 and is the latest addition to the mixed-use community, which also encompasses 715 apartments, a hotel and community retail center, making this a complete integrated community.

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