Prescott Real Estate Development, one of the leading players in the UAE’s residential and property business, showcased its Dh165-million ($45 million) Prime Views project located at Meydan Avenue in Dubai at the recently held Dubai Property Show (DPS) in Shanghai, China.
Highlighting the features of the mega project development further reaffirmed Prescott’s commitment to address the needs of property investors looking for affordable luxury properties in the emirate.
The ongoing construction of Prime Views, which is targeted to be turned over in the first quarter of 2020 right before Expo 2020 Dubai, comes at a time when there is an increased focus among developers on affordable luxury property segment, said the UAE developer.
The premier but cost-efficient Prime Views is Prescott’s response to this growing trend coupled with the company’s initiative to offer a post-handover payment plan amid incredible local demand for the scheme, it added.
Naveed Faridi, the general manager, said Prime Views located just 200 m from the Meydan hotel was an excellent investment proposition for buyers in the UAE, China, and other nations.
“The low-rise G+4 building, which sits on a 60,000-sq-ft area, comprises 151 apartments, with Prescott offering an attractive four-year post-handover payment plan to enable investors to own luxurious yet affordable homes in one of the world’s bustling cosmopolitan cities,” stated Faridi.
“We are one of the few that present such a payment plan in Meydan area. Meydan is considered one of Dubai’s prime areas due to its proximity to all important destinations such as Meydan Racecourse, Meydan Hotel, Meydan Arena, Dubai International Airport, Dubai International Financial Centre, Downtown Dubai, Business Bay, and Sheikh Zayed Road,” he added.
According to him, China was an attractive market for many Dubai property developers, with some of them even forming strategic tie-ups with Chinese brokerages to entice property buyers in the mainland.
The UAE government moved to further attract Chinese nationals by relaxing its visa requirements and improving connectivity through direct flights to Chinese cities.
Additionally, like other DPS exhibitors who joined the Shanghai show, Prescott took the opportunity to promote Dubai as one of the world’s best investment and tourism destinations.
Moving towards 2020, Prescott will continue to focus on affordable luxury segment and initiate development projects in locations that are part of the expanding areas of Dubai to give an upgraded category of living to consumers of newly developed areas.
“Through the popular Dubai real estate exhibition, Prescott was able to create awareness about the emirate and why it has become a key global hub. DPS also served as the best opportunity to make our presence known in the exponentially growing Asian market and promote the kind of residential projects we deliver,” observed Faridi.
“Joining DPS in Shanghai formed part of our tactic to further explore the market in light of the rising interest from Chinese buyers in Dubai’s key areas, especially in Meydan area. In fact, we are also planning to hold road shows to include the mainland in line with the government’s comprehensive economic diversification plan,” he added.-TradeArabia News Service