FOLLOWING the successful launch of two landmark neighbourhood communities in Dubai, UAE, Lootah Real Estate Development Company (LRED) has ambitious plans to position itself as the leading third-tier developer in the UAE.
The company is currently working on two major projects under its banner – Shamal Community in Jumeirah Village Circle (JVC), and Ewan Residences in Dubai Investment Park (DIP), according to Saleh Abdullah Lootah, executive director, Lootah Real Estate Development (LRED).
LRED, which is backed by the SS Lootah Group – one of the major business groups in Dubai – had earlier successfully launched Phase One of Ewan Residences and Shamal Terraces, which forms part of Phase One of the Shamal Community that is currently under way. Following this success, the company is gearing up to start construction work on Phase Two of the Shamal Community and Ewan Residences.
Commenting on the concept behind the Shamal Community, Lootah says: “Our aim is to create a tranquil and competitive lifestyle housing option for the growing population of Dubai in the wake of the economic revival. Dubai’s successful bid for the Expo 2020 has been a major market stimulus. Above all, the local government has advised developers to complete all developments a year ahead of the expo.
“We are lucky to have already acquired a prime location at JVC, which is in close proximity to the new economic corridors of the city that include the Expo 2020 site, the new Al Maktoum International Airport and Jebel Ali Free Zone, closer to the two main highways Shaikh Mohammed Bin Zayed and Al Khail, Dubai Media City, Dubai Internet City, Tecom area, Dubai Investment Park as well as major shopping malls, healthcare facilities, educational institutions and a golf course.”
The engineering and design consultant for Shamal villas is Arif and Bintoak, which was selected following a review of the feasibility reports from various consultants, he says. The villas are being built by SS Lootah Construction – a company established under the Lootah Group – following the completion of site mobilisation and fencing work.
LRED is now in the process of selecting the main contractor for Shamal Residences which are part of Phase One of the Shamal Community, and expects to start work immediately to enable completion in 18 months from the date of commencement.
Excavation and shoring work has commenced for the apartment blocks, says Lootah.
Phase One of the Shamal Community project includes Shamal Terraces comprising 30 villas and Shamal Residences offering 204 studio and 55 loft apartments. While the studios measure 527 sq ft, the villas have a total built-up area ranging from 4,481 to 6,362 sq ft. The overall built-up area of the Shamal Community development is more than 147,000 sq ft.
The villas comprise three bedrooms with attached walk-in closets, bathrooms plus a maid room with attached bath, a family room, living and dining area along with a kitchen and powder room. The apartment block comprises three floors housing studio apartments and a fourth floor for duplex-type lofts with one bedroom on the upper floor along with an attached walk-in closet and bathroom.
Each unit features high ceilings, large glass sliding doors, spacious living areas, expansive terraces, attached bathrooms, modern kitchen, swimming pool, a fully-equipped gym, a sauna, car garage, round-the-clock maintenance and security.
Services and community facilities such as banks, play areas, parks, shopping centres, mosques, health facilities and supermarkets will be available for residents in the master developer Nakheel’s future plans.
Meanwhile, Ewan Residences at DIP comprises 82 buildings with up to 12 apartments in each block. The apartment blocks have been designed so as to make them affordable to small, medium and large companies in Dubai.
Ewan Residences is a secure, gated community with well-landscaped gardens, a state-of-the-art recreation centre, swimming pools, jogging track, and community facilities that also include play areas for children throughout the complex.
In the past, LRED was involved with Maples One and Two, which are state-of-the-art buildings with all amenities expected for a metropolitan lifestyle.
Maples One is located in the Al Qusais area, Dubai, just behind Al Bustan Centre. “The building exemplifies Lootah Real Estate’s commitment to superior quality and luxury living. Featuring spacious and well-designed apartments, the 11-storey residential building offers its residents a choice of one- and two-bedroom apartments,” he says.
Maples Two, strategically located within the traditional commercial district of Bur Dubai, enjoys proximity to shopping malls such as BurJuman Centre, the textile and electronics market, Al Fahidi metro station, as well as a variety of restaurants and fast-food chains.
“The Business Bay district, World Trade Centre and Convention halls, the Downtown area where Burj Khalifa stands, are all within a 4-km radius. With finishes of the finest quality, Maples Two offers a choice of studios, and one- and two-bedroom apartments,” he adds.
Maples One and Two feature a modern kitchen well equipped with a refrigerator, a washing machine and a cooking range; car parking, free maintenance, a fully-equipped gym, sauna and round-the-clock security.
History & vision
The Lootah Group has a legacy spanning over five decades and has left an indelible mark across a wide range of industries in which it operates including engineering, banking, food and education, to name a few. Since the inception of the group, LRED has acted as the prominent property arm of the Lootah conglomerate. Through a culture of excellence and a commitment to providing the highest standards of living, Lootah Group’s 6,000-plus employees have not only achieved but exceeded its ambitious goals. Lootah Real Estate Development has already delivered over 1,000 units, with many more planned for the future.
“Lootah Real Estate Development aims to become the lifestyle developer of choice within the region recognised for creating modern communities that inspire souls and enrich lives,” says Lootah.
By creating high-end neighbourhood communities, LRED aspires to achieve excellence by continuously improving and upgrading its services in property management in order to grow as a regional player by leveraging its expertise, capabilities and the futuristic vision.
While expressing satisfaction on the revival of local property market after the financial downturn in 2008, he says: “Recent real estate research reports have found that the UAE, especially Dubai, market is on the rise again. However, the reports have cautioned that an overheated market could lead to another burst of the real estate bubble. The International Monetary Fund (IMF) in its recent press reports recommended the UAE government to rein in the unnatural growth in Dubai to make the market a sustainable one.”
Lootah says the overall outlook for 2014 is positive as property prices are expected to maintain their upward trend, with further mega project launches by Dubai in the next 12 months.
“Strong market growth, which experts believe will prevail in 2014, will continue until 2020 at the least.
“We are closely watching the market, its trends and taking a cautious step-by-step business approach to better housing options for our investors,” he concludes.