The construction group called McFadden International has been awarded the construction of the Avenue 353 villa project.
The Avenue 353 project was awarded to the construction group, McFadden International, by a construction group based in Dubai called the Ilyas and Mustafa Galadari Real Estate.
However, the real value of the overall deal is still unknown.
This project is located in the City of Arabia, within a gated community, featuring villas which are four stories high and are high-end, and this project was launched in the March of this year.
Not only does it look grand, but the interior also contains a lot of space, as each villa has its own functional basement, which includes a laundry, a maid’s room, a store, and it also has additional space to turn into an auxiliary kitchen, a gym, or a cinema room. It also has a mezzanine floor, which consists of guest rooms.
These villas also contain private elevators, open-terraced rooftop gardens, and an underground parking.
Those who decide to reside in these amazing villas will also be able to access the athletic courts, a play area for the children, the cycling tracks, and the outdoor retail strip which consists of cafes, clinics, restaurants, fashion, and supermarkets.
This freehold property, in addition to all its facilities, is also conveniently located just 500 meters from an upcoming development by IGM, called the Worlds of Adventure, which is a theme part that is expected to open later in 2015. This theme park has an area of 1.5 million in sq. ft., and it will feature four different zones: Cartoon network, Marvel, IMG Boulevard, and Lost Valley.
The total City of Arabia project will also contain the Mall of Arabia, a mall which will have residential and commercial buildings, more than 1,000 retail outlets, and Wadi Walk, which is a waterfront community containing outdoor cafes, retail outlets, Elite Towers and apartments.
Upon completion, City of Arabia is expected to have 32,800 residents in their 8,200 residential components.
Although there has been a slowdown in the prices of residential properties, the real estate market in Dubai has experienced an increase in activity over the past few months.
According to a recent report from the property consultant, Cluttons, it is expected that more than 12,600 new units will be found in the market by the time 2016 draws to a close, and 15,800 completions will occur within 2017 and 2018.
The report also stated that the fear of an oversupply is minimal, as the population is also expected to grow up to 400,000 during this time period.