Dubai’s Majid Al Futtaim makes residential debut with Dh14bn mega-community
Tilal Al Ghaf to comprise 6,500 freehold homes spanning 3 million square metres
Majid Al Futtaim, the Dubai-based real estate and retail conglomerate that owns Mall of the Emirates and Ski Dubai, unveiled plans for a mixed-use community in Dubai with an investment value of Dh14 billion over the next 10 years, it said.
Tilal Al Ghaf is Majid Al Futtaim’s entry to the Dubai residential property sector, the company said in a statement on Thursday.
“The scheme represents the evolution of Majid Al Futtaim’s property business in Dubai,” said Robert Welanetz, chief executive of MAF Properties.
Tilal Al Ghaf, whose name was inspired by the Middle Eastern Ghaf tree which is a symbol of local heritage and sustainability, spans 3 million square metres at the intersection of Hessa Street and Sheikh Zayed Bin Hamdan Al Nahyan Street, near Dubai Sports City.
Built over multiple phases with completion scheduled for 2027, the project will include more than 6,500 freehold homes ranging from apartments, townhouses and bungalows, through to larger, luxury villas.
Homes will be arranged within four walkable neighbourhoods, with around 355,000 square metres of landscaped open space including green spaces and play areas, 18 kilometres of walkable trails and 11km of cycling paths.
The centrepiece will be Lagoon Al Ghaf, a 70,000 square metre swimmable lagoon, complete with 400 metres of beachfront and 1.5km of walkable waterfront and water sports facilities. There will also be retail, restaurants, healthcare facilities, a “top international secondary school for up to 2,000 students”, and three nurseries, MAF said.
The launch phase will see units offered for sale in the first two residential neighbourhoods. ‘Serenity’ is a collection of 40 five- and six-bedroom upper-luxury villas with views across the lagoon, while ‘Harmony’ has a range of living options from single-storey bungalows to expansive three-storey family villas.
Updated: April 19, 2018 04:39 PM