Fall 2011 - Latest News
Posted 12 December 2011
As we approach the end of 2011 with the conclusion of the third Dubai World Championship golf tournament we are looking forward to finally handing over our completed villas during 2012. Since the end of Ramadan and Eid holidays, the civil works contractors have returned to site and have been working on roads, drainage and landscaping along with the sub-station works. The master developers own developments (Flame Tree Ridge, Fireside and Whispering Pines) have also re-started and we understand are being targeted for completion by the end of 2012. Although we are unable to confirm the actual dates for hand-over, we are now undertaking the necessary tasks required in anticipation of hand-over so that we will be ready when the power is finally turned on and all other utilities are connected.
The third 'Race to Dubai' golf event was another success with excellent crowds and beautiful weather. We were extremely pleased to be informed on the final day that the Dubai Government has committed to another 3 years of hosting the event at Jumeirah Golf Estates. The future European Tour season event will be known as the 'DP World Tour Championship Dubai' with an increase in the winning purse to US$ 8.0m. The event will now be played on the Earth course up until 2014. This is a fantastic piece of news as we anticipate having residents finally able to enjoy the 2012 event from the comfort of their home and garden overlooking the course.
There has been much interest in the villas since the end of the summer and we have assumed that this is due to there being a lack of high quality villas on well planned communities in Dubai. We have seen a trend in recent months suggesting that villa prices in Dubai (in key locations) have retained their value or in some cases have increased by comparison to 2010. Whilst we are not inclined to talk about our homes as being only purchased for the sake of an investment (as we hope they are purchased as a home and somewhere to live) we are aware of the normal concerns of a purchaser who will wish to protect their investment in real estate. The reality is that there are few 'communities' such as Jumeirah Golf Estates and as such we truly believe that within a few years of the completion of the estate that this will be one of the best 'Addresses' to have.
We have seen gradual improvements to the road systems connecting the Estate to Emirates road and we understand that the final works to the Al Khail junction will be completed within 12 months. The completion of the Green Community fly-over via the Jebel-Ali road has considerably improved the access time. It now takes 15 minutes to drive to the project from Dubai Marina.
We have retained 20 villas for future sales or for leasing once we hand-over. The unsold villas range in size from 4 to 6 bedrooms and are either located on the golf course or parks – some with lake views. If you are interested in viewing the project then please do not hesitate to contact CHI at info@chi-uae.com or call the following number: +971 (50) 650 7793.
May I thank you for your time and interest in Lime Tree Valley.
Roger W Wakeham.
Director of Development for CHI.
