Kuwait’s
Abyaar Real Estate Development, which recently
entered the UAE market with capital investment
of US $1.4 billion, is to build the first freehold
development in the Jumeirah district of Dubai
- one of the most sought after addresses in the
emirate. Acacia Avenues typifies the Abyaar approach.
Close to public and private beaches, Dubai Marina,
an array of five star hotels, Burj Al Arab and
countless recreational facilities, Acacia Avenues
is ideally placed for luxurious lifestyle. A short
drive from Dubai’s fashionable Media City
and Internet City, Acacia Avenues properties occupy
a prime position in what has been termed ‘new
Dubai’. Along with a harmonious blend of
urban convenience and private luxury, residents
will enjoy easy communication through excellent
road networks and the planned metro. In short,
the location selected for Acacia Avenues is truly
exceptional.
Selected
to leverage the real estate mantra of ‘location,
location, location,’ Abyaar believes the
94,000 square metre Acacia Avenues, adjacent to
Knowledge Village and ready for full occupation
in the first quarter of 2009, will deliver significant
investor capital appreciation. Designed as a gated
community, Acacia Avenues, with an investment
value of US $550 million, is reminiscent of the
best real estate in the world and will deliver
a distinctive and luxurious lifestyle with contemporary,
yet feature-filled, sky villas (duplex apartments),
villas and apartments, gardens and extensive leisure
and retail facilities. And, in a move designed
to ensure long-term quality integrity, Acacia
will be managed by award-winning Banyan Tree Hotels
& Resorts, under the Angsana Resorts and Spa
brand.
Designed
as a first-class community, with pedestrian access
throughout, Acacia Avenues will feature premium
facilities including a luxurious health club,
swimming pools, spa, squash courts, children’s
play areas, cafés and shops. All
Acacia Avenues properties will be finished to
the very highest luxury standards - from furniture
to lighting - each being conceptualized and manufactured
by an elite group of specialists. Superior craftsmanship,
quality materials and innovative design solutions
symbolise the work of lighting specialists FontanaArte,
door specialists Lualdi Porte, kitchen specialists
Siemens and Salvarini, bathroom specialists Florim
Group, stone and marble specialists Mariotti,
and furniture specialists Poliform and FEG.
Acacia
Avenue’s initial phase provides a range
of accommodation including ‘Olgana’
-136, freehold, one, two, three and four bedroom
apartments - and 50, five and six bed-room villas.
The subsequent phase, ‘Hilliana’,
will house approximately 137 freehold serviced
apartments. Payment
Terms are excellent for such an impressive huge
project. Indeed for the apartments it’s
going to be 4 equal instalments of 10% and the
remaining 60% upon completion. As to villas there
will be 2 instalments of 10% and 2 instalments
of 20% and the remaining 40% upon completion.
