News500 more apartments to be built in Al Barari
About 500 apartments will be added to the Al Barari project during its second phase, an official told Gulf News. The size of the apartments will vary between 2,000 to 5,000 square feet, and with a price tag starting at $1.3 million (Dh4.7m), the apartments will be less than half the price of villas built in the first phase.
The Al Barari project is a high-end luxury destination in Dubailand with 290 villas (first phase) and 500 apartments (second phase). The villas start at $2.9 million (Dh10.5m) and 170 are already sold. 95 of these are scheduled for handover in September this year. The second phase will introduce more “affordable” apartments aimed at those who want a cheaper alternative, with prices in the range from $1.3m to $5m.
“The government and the regulators are working to improve the market continually. The changes that do get made have an immediate impact. The market here crashed rapidly and I expect it will probably rise rapidly. The main problems have been market confidence and a lack of liquidity,”
said David Stafford, chief sales and marketing officer at Al Barari.
“However, buyers in Al Barari are perhaps not experiencing the same liquidity problems the rest of us are, with around 90 per cent of them being cash-buyers,” he added.
Greenery
The developers of Al Barari (translated to “the wilderness”) have dedicated Dh1.4bn to plants and greenery, which is a vital part of the project. Chairman of Al Barari, Zaal Mohammad Zaal, explained how the developers have created this oasis:
“When we were planning the landscaping, we looked at the geographical location of Dubai and compared it to other countries which share the same climate zone around the globe and then set about working out how to make the same plants grow here.”
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