Expats and overseas investors can now buy freehold property in Mirdif for the first time ever
Dubai, UAE September 2014: Dubai’s real estate market is showing continued signs of robust strength with the highly anticipated launch of a 180 million Dhs property project, billed as Mirdif’s first freehold development.
Mirdif Tulip comprises 116 residential units and is situated on the edge of Dubai’s first public park, Mushirif Park.
“As exclusive marketing agents, we are excited to announce that Mirdif’s first freehold property will be released to the market on September 13th, 2014,” said Mr Iseeb Rehman, CEO the Sherwoods Group of Companies.
“Mirdif has traditionally been popular for expats, given its close proximity to Dubai International Airport and nearby attractions such as Dubai Creek,” he said.
“The landmark decision to open Mirdif to freehold investment will now allow foreigners to purchase freehold, rather than rent in the district,” he said.
In May 2002, HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, issued a decree allowing non-UAE nationals to buy freehold property in designated areas.
Mr Rehman announced that the official launch of this historic development will be held on13th of September, from 10am until 8pm at the Emirates Towers Hotel, Sheikh Zayed Road, Level 8, Congress Room 1.
The four-floor Mirdif Tulip is perfectly positioned between Al Khawaneej Road and Tripoli Road.
It is on the doorstep of several schools and Mirdif City Centre shopping mall, as well as attractions such as the Burj Khalifa and Jumeirah Beachare also within easy reach.
The new community has unobstructed views of Mushirif Park, a mature oasis bristling with lush gardens and family-orientated activities such as swimming pools and activity centers.
Its 116 residential units, comprising of studio, one, two and three bedroom apartments, are nestled against the backdrop of the beautiful Mushirif Park, which at 5.25 square kilometres is the largest (and oldest) park in Dubai.
A sneak-preview for residents of the project will available at Mirdif City Centre Mall from September 6th to 13th where individuals can ask questions and express an interest in purchasing.
“We are extremely privileged to have been chosen to market the very first freehold development in Mirdif,” Mr Rehman said.
“It’s anticipated demand will be strong for a unique property such as this, and we expect the market to respond swiftly and positively to this product,” he added.
With underground parking, 24-hour security, large swimming pool, two ground-floor offices and 14 retail outlets among the amenities available, the new development will cater to residents’ every need.
The venture is managed by UAE-based property development firm Jersey Properties LLC, who have been actively involved in a variety of successful projects in the UAE during the past 12 years. The project is RERA compliant and has an established Escrow account.
Jersey Properties LLC have appointed Al Tatweer as the principal project contractor to work with Al Shurooq Architecture & Engineering Consultants, who have already completed 40% of construction and are on schedule to complete the project by July 2015.
Mark Evans, Sherwood’s Head of Land Acquisitions & Investments commented, “The strong market growth of the past 15 months may have cooled a little during the past two quarters, however the launch of this development demonstrates the the confidence of developers in the market and the demand that exists for high quality unique properties such as Mirdif Tulip.”