Tecom jumps into freehold market

27.08.2014
Tecom Investments, which operates 11 Dubai business parks including Dubai Media City and Dubai Knowledge Village, is developing 440 new off-plan homes close to its DuBiotech business park in the Al Barsha South area.
One of Dubai’s biggest commercial developers is turning its attention to building freehold villas around some of its office schemes, The National reported.
Tecom Investments, which runs 11 business parks in Dubai including Dubai Media City and Dubai Knowledge Village, is developing 440 new off-plan homes close to its DuBiotech business park in the Al Barsha South area. Tecom said that it would start to sell the Villa Lantana development of three, four and five-bedroom detached and semi-detached homes early next month with prices starting at AED2.375 million.
It said that construction of the project, which is designed as two gated communities close to the Umm Sequim Road, was under way with completion expected at the end of next year.
“Currently, the demand is there for quality family villas in a good location. The project was designed to meet the demand for family homes located in the centre of new Dubai,” said Badr Al Gargawi, the chief executive for Tecom’s development and planning division.
“The new Villa Lantana development will reinforce our presence in the market and is aligned with our vision to create fully sustainable business communities,” he said. “As the Al Barsha South area of Dubai continues to develop and as the market grows sustainably, this is now the right time to bring Villa Lantana to the market.”

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