Dubai Festival City (DFC), by Al Futtaim Group, which houses IKEA, Al Futtaim Motors, Ace Hardware, Festival Centre, Al Badia has announced today that it has released its new freehold properties which includes Villas and apartments, for sale on Freehold basis.
The news was announced today on Business Breakfast at Dubai Eye 103.8 by Ian Plumley, Head of Property Sales & Major Events and Acting Head of Leasing, Dubai Festival City at Al Futtaim Group Real Estate.
This comes on the back of Emaar recently releasing offplan properties which were sold completely.
DFC will offer a choice of Villas and Apartments. A 3700 SQFT villa would cost you upwards AED 4.8MN. There are currently 3 phases of the properties in the development. Al Badia, is a popular leasing option among expatriates in the region. The leased properties are fully occupied and there seems to be waiting list for new tenants who would like to move in to the community.
The properties have been fully completed and are ready for occupation. Interested buyers can directly contact Al Futtaim sales centre at DFC.
The launch of this Freehold property signifies the return of Dubai real estate market. Dubai was hit hard by the financial crisis and has taken bold steps to recuperate the economy in the past years. It only proves the potential of UAE to be a destination to live and work.
All the standard rules of the freehold properties will apply to the development.
Further details are awaited. FAQ Link