- Aims to Meet Demand for Mid-market Housing in Dubai
- Offers Estimated Rental Yields up to 11%
Abu Dhabi-UAE: 04 September 2016 – Bloom Properties, a Bloom Holding business specializing in the development of integrated and sustainable communities, has announced a mixed-use project in Jumeirah Village Circle (JVC) in Dubai, marking the Abu Dhabi-based master developer’s foray into mid-market housing in the Emirate.
Located in the heart of new Dubai, Jumeirah Villa Circle is a family-friendly development designed to provide a sense of community amid lush landscaping. The growing master community has become a popular choice for both investors and residents due to its close proximity to major landmarks including Mall of the Emirates, Dubai Media City, Dubai Internet City, Palm Jumeirah and Dubai Marina, among others. The community of JVC comprises a range of properties such as villas, apartments, townhouses, offices, and retail supported by a wide array of amenities and services.
Ideally located in the master community, Bloom Heights offers easy access to all major roads and will consist of two high rise towers linked internally by four podium levels. The project will offer a total of 686 residential units ranging from studios, one, two and three bedroom apartments at prices starting from AED360,000. Bloom Heights is scheduled for completion early 2019.
Sameh Muhtadi, CEO, Bloom Holding, said: “The shortage of good quality, mid-market accommodation is a major challenge facing the real estate industry across the country. This project will allow us to meet the demand for mid-market housing and fulfill the requirements of the country’s growing middle-income population without compromising the quality of construction and finishing.”
He added: “We are confident that Bloom’s long-standing reputation as a trusted and visionary developer of many successful developments will appeal to investors and potential home-owners looking for a stable investment. Offering estimated rental yields up to 11%, the project creates an unparalleled opportunity for investors in one of Dubai’s upcoming and strategically located communities.”
Bloom Heights will feature modern and contemporary architecture with an intelligent design that maximizes the value of living space. In addition to its efficiently designed apartments with high-quality finishes, the project will offer a host of amenities including two swimming pools, a running track, a gym, a multipurpose hall and convenience retail outlets.
The project will also benefit from its easy access to Sheikh Zayed and Emirates roads via Al Khail Road and Hessa Street. It will also be served by Circle Mall at Jumeirah Village Circle, a community centre and a number of parks, retail outlets, schools, playgrounds, and mosques.
The Circle Mall at Jumeirah Village Circle, covering one million square feet, will act as a new shopping and leisure destination for residents and tourists in the area. It will have 200 shops, an anchor supermarket, two department stores, a multi-screen cinema and a variety of dining outlets including a food court.
Bloom Holding, is a group of companies dedicated to developing sustainable and integrated urban communities that offer an enriching lifestyle and quality of life. The Group is driven by its vision to surpass the expectations of buyers and investors through partnerships with best-in-class providers in education, hospitality, healthcare, and property services. Bloom Holding has an established and growing portfolio of projects within the UAE, the wider MENA region, Europe and the United States.