With Dubai investing heavily in its infrastructure ahead of hosting the 2020 World Expo, several major residential developments have been kick-started after work ground to a halt following the financial crisis.
Dubai Sports City, part of the huge Dubailand development is one of the ambitious projects attracting increasing buyer interest in the Emirate. The 5 million m² community currently home to 15,000 people across 6,000 apartments and 1,000 villas is expected to house 70,000 when it is completed in seven years.
The development has been a major Dubai real estate hotspot since 2013 when the project was resurrected after falling by the wayside in the aftermath of 2008’s global financial crisis. The mixed-use residential area is built around a number of world-class sporting facilities, some of which are still under construction or planned for the future.
A number of the residential components of Sports City have been delivered although there is still a lot of construction activity in the area. Of existing projects, 70% of villas and 60% of apartments are occupied and Sports City expects to attract 5,000 residents this year as the mixed-use project continues to gather buyer interest, swelling its population to 20,000.
The world’s first integrated purpose-built sports city
In February, GGICO launched apartments targeting middle-income families with price tags starting at €200,000. The offering sold out within weeks, boosting expectations of the development’s take-up rate over the remaining seven years to completion.
Dubai Sports City is the world’s first integrated purpose-built sports city, featuring 5 international sports venues and a series of major sports academy facilities. The area is supported by excellent infrastructure for resident families with retail parks, schools, leisure facilities, cultural attractions as well as the wealth of sports options available.
Dubai Sports city’s chief financial officer, Vijay Sajjanhar said: ” We have a great mix of residential, sporting facilities and food and beverage outlets which are proving big success stories. We are running a marathon, not a sprint, ” referencing the development’s long term goals as part of the Dubailand mega-development.
Source:: Property show rooms