Dubai Properties has unveiled the final phase of town houses at its Mudon master development as the UAE records buoyant demand for properties.
Mudon Al Ranim, which comprises 182 townhouses featuring three and four-bedroom layouts, is the conclusion of the Mudon community, the UAE developer said in a statement on Tuesday.
It was built in response to high demand from homebuyers.
The townhouses will be available in either ground plus one or ground plus two floor plans.
The developer did not disclose the prices for properties in the new development.
“Mudon Al Ranim exemplifies our commitment to meeting the ever-evolving needs of homeowners,” said Khalid Al Malik, chief executive of Dubai Holding Real Estate.
“Recognising the demand for space, privacy and flexibility, we have carefully designed homes that offer residents a sanctuary for work and play, all within the confines of their own homes.”
Dubai's property market has bounced back strongly from the coronavirus-induced slowdown, helped by government initiatives such as residency permits for retirees and remote workers.
The UAE's move to expand the 10-year golden visa programme, the economic gains generated by Expo 2020 Dubai and higher oil prices also supported property market growth momentum.
Dubai’s residential real estate prices rose in June at the strongest pace since 2014. The average price for residential units in the emirate rose by 16.9 per cent on an annual basis, up from 15.9 per cent year-on-year from the data recorded in May this year, consultancy CBRE said in its Dubai Residential Market Snapshot report in June.
Average apartment prices in June went up by more than 17 per cent to Dh1,294 ($352.6) per square foot while villa prices climbed by 15 per cent to Dh1,525 for a square foot.
In June, the volume of transactions in the emirate, the commercial and trading hub of the Middle East, rose to 9,876, an almost 19 per cent annual increase, according to CBRE.
Off-plan transactions grew by almost 45 per cent, but the secondary market transactions softened marginally in June, according to CBRE data.
Each townhouse in Mudon Al Ranim will be designed in a single-row configuration, Dubai Properties said.
The development will feature fitness centres, children’s play areas, picnic spots, barbecue areas, swimming pools and jogging tracks, among other amenities.
The townhouses in the community will include floor-to-ceiling windows and double-height ceilings.
Mudon is located at the intersection of Al Qudra Road and Emirates Road.
Dubai Properties, a subsidiary of global investment company Dubai Holding, has developed mixed-use destinations across the emirate, including Jumeirah Beach Residence, Business Bay and residential projects in Dubailand.
