Memon launches Gardenia project in Jumeirah Village South

Luxury residential tower part of developer’s plans to launch AED 2.5 billion worth of projects by the second half of 2008

Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, has announced the launch of ‘Gardenia I & II’, an AED 150 million project located in Jumeirah Village South. The luxurious residential development marks the leading developer’s foray into Jumeirah Village South (JVS), following previously announced projects in Dubai Silicon Oasis (DSO) and Dubai Sports City (DSC). Targeted for completion by the third quarter of 2010, the tower is part of the leading developer’s plans to unveil several projects collectively valued at AED 2.5 billion by the second half of 2008.

Company officials have also announced that an Escrow account for the project with Commercial Bank of Dubai is already in place, in compliance with the requirements of the Real Estate Regulatory Agency (RERA) and the Dubai Land Department (DLD). In addition, Memon Investments has also partnered with the Middle East Centre for Sustainable Development (MECSD) in line with its aims to implement ‘green building’ codes, sustainable development and ‘green technologies’ within the construction of ‘Gardenia I & II’. The state-of-the-art project features special insulation to reduce air-conditioning power consumption, garbage disposal management, mood lighting in all common areas, recycling unit and a temperature-controlled retail arcade, in a bid to encourage residents to adopt a more ‘green’ approach.

Located centrally within Jumeirah Village South, near the Cultural Centre and the renowned Central Park, ‘Gardenia I & II’ is splendidly designed and meticulously crafted to offer residents a charming yet authentic Mediterranean experience. Incorporating a mixture of residential, commercial and retail spaces, the project features a total of 170 residential apartments including 60 studios, 68 one-bedroom units, 22 two-bedroom units, 7 lavish townhouses and 13 loft apartments, with 8 retail units on the ground floor. The 5-storey residential development has been designed by Dimensions Engineering Consultants (DEC) and incorporates stuccoed walls, tiled roofs, rustic arches, solid wrought iron balcony grills, carved doors, ornamental spiral columns, marble flooring and thematic and floral designs to create a Mediterranean ambience.

Commenting on the launch of the project, Abu Baker Shaikhani, Chairman, Memon Group, said,

“This is our first project in Jumeirah Village South, and a lot of market research and planning have gone into the conceptualization of this residential project. Location has always been a key factor for us and we are pleased to get a prime spot, which is very close to the Central Park and Cultural Centre, both of which are at the heart of the development. We are highly optimistic about the sales prospects of the development, especially after taking into account, factors such as the superior quality of the development, excellent location, and also the ease of access to Emirates Road, Al Khail Road and other major roads.”

Built on a 90, 000 sq. ft plot and with a total built up area of 157,265 sq. ft, residents of ‘Gardenia I & II’ will have access to world-class facilities including two roof-top health clubs comprising of communal swimming pools, gymnasiums, steam, sauna, spas with Jacuzzis, rooftop juice bar, party halls and outdoor terraces, majestic marble lobby, basement parking, landscaping, 4 hi-speed elevators, retail arcade on the ground floors of each wing comprising of concierge desk at the lobby, boutiques (renowned lifestyle brands), cafes, restaurants and travel agency. Other amenities include valet parking, 24 hours manned security, in-house maintenance team, Wi-Fi technology, keyless entry, mood lighting, hi-speed internet connection, and a state-of-the-art surveillance and intercom system for each apartment.

“We were keen on making ‘Gardenia I & II’ affordable to a wide segment of potential investors, which is why we have devised two investor-friendly payment schemes. Investors have the option of either making a 10 per cent down payment and obtaining 80 per cent finance, or making a 10 per cent down payment and 80 per cent through quarterly installments. To ensure that the project is completed on schedule, we have finished the necessary regulations by registering with Dubai Land Department, and have also opened an Escrow account with the Commercial Bank of Dubai,” added Ahmed Shaikhani, Managing Director, Memon Investments.

With offices in eight locations across the UAE, Egypt and the rest of the Gulf region, Dimensions Engineering Consultants has been providing award-winning architectural and engineering services to a broad range of public and private clients in the region. Specialising in delivering value-added professional solutions, the company’s project portfolio includes renowned structures within Dubai Health Care City, Palm Jebel Ali, Jumeirah Lake Towers, Falcon City of Wonders and Dubai International City, among others. Backed by two decades of industry experience, DEC has completed over 500 projects in the region, and is undertaking approximately 100 projects at present.

“The collated value of the quality of our workmanship, our keen attention to detail, and the creative inputs, which have stood as trademarks of our designs have gained us our strong relationship with the region’s leading developers. Our involvement in the design of the most important skyscrapers today, especially in the Dubai skyline, is a testament to the extent of our creative abilities and professionalism. Through this project, Memon Investments has handed us their full trust, and it is with great confidence that we will reach the high standards, which this developer incorporates within all its projects,”

said Hisham A. Al Ghany, Chairman, Dimensions Engineering Consultants.

Eye of Dubai

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