Dubai developer Jumeirah Golf Estates announced that its Alandalus Townhouses sold out within “three hours” of release into the market.
The townhouses, described as being in the “affordable luxury” segment, were priced from Dhs1.3m onwards and were launched for sale in Dubai last week.
The company said the new development was launched based on increased demand for units in the Alandalus community – which is more than 75 per cent sold after launching in May 2015.
Yousuf Kazim, CEO of Jumeirah Golf Estates, said: “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.”
The Alandalus Townhouse gated community includes two and three-bedroom units. Each townhouse will have a private outdoor terrace including an optional plunge pool and patio area.
The townhouse development is expected to be completed in September 2018.
“The real estate sector in Dubai remains strong and presents a great value proposition for investors seeking high rental yields and capital appreciation,” said Kazim.
“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.”
The overall Alandalus community currently comprises 715 apartments, a hotel and community retail centre. It is located within the wider Jumeirah Golf Estates development which features swimming pools, tennis courts, BBQ facilities, gymnasium, children’s play areas and 15 lakes and wildlife and foliage along with cycling and jogging paths.
Residents also have access to a clubhouse, a European Tour Performance Institute and a tennis and fitness centre.