Dubai: AED1.3bn mixed-use project by Seven Tides 15% complete

UAE-headquartered property developer, Seven Tides, revealed that its first mixed-use development in Jumeirah Lakes Towers (JLT), SE7EN CITY JLT, is around 15% complete.

The project, valued at AED1.3bn, consisting of 2,635 units, is due for completion within 36 months. The development is spread over 32.5ha and situated within Cluster Z in DMCC, opposite the Montgomery and Emirates’ golf courses and the Emirates Hills community.

The residential element consists of studio, one-, two-, and three-bedroom apartments as well as a limited number of duplex apartments.

Abdulla Bin Sulayem, CEO, Seven Tides, said: “SE7EN CITY JLT is designed to provide everything a resident might possibly want, with retail, entertainment, food and beverage outlets, a nursery, gym and a health club. However, when residents do venture outside, they’ll still be able to enjoy the urban vibe, with the excitement and fast-paced, hustle and bustle of city life, right on their doorstep.

“In complete contrast, residents will also have the best of both worlds, with stunning panoramic views of Jumeirah Islands, the Montgomerie and Emirates Golf Courses, the Palm Jumeirah, Dubai Marina, and Jumeirah Beach Residences.”

The design sits upon a common podium, which plays host to promenade restaurants overlooking a lake. The tower also features a gym, health club, infinity pool, children’s pool, a roof garden, cafes, other dining options, a large retail offering, covering 13,935sqm over three floors, which will include a hypermarket, as well as car parking spaces totalling 2,699, with an additional 620 spaces dedicated to retail parking, including valet.

All apartments come complete with high-end fittings and finishes, synonymous with the SE7EN brand and also feature built-in wardrobes and branded white goods.

Studio apartments start from AED354,000, ranging in size from 35.6sqm to 38.6sqm, while one-bedroom apartments start at AED683,000 and range in size from a minimum of 68.6sqm to a maximum of 74sqm. Prices of two-bedroom apartments start at AED992,000 and the size is 99.6sqm. Finally, the entry price for three-bedroom apartments starts at AED1.4mn and vary in size from 141sqm to 141.3sqm.

Bin Sulayem said: “SE7EN CITY JLT also has a very attractive easy payment option consisting of a 5% deposit,
followed by payments equal to 6% of the cost price, to be paid every subsequent quarter, with a completion date of Q3 2021. We estimate that studios should yield 12% per annum.

“This development also highlights the flexibility of the SE7EN brand, it works equally well as a leisure resort on the Palm Jumeirah, as it does within an urban setting in JLT. And investors can expect the same level of quality décor and finish, presented in a contemporary and techno-trendy fashion and with the same compelling value proposition.”