Dubai, UAE, 15February 2020:Majid Al Futtaim’s latest release of townhouseshas sold out just three weeks after launch following exceptional demand amongbuyers eager to secure a premium three-or four-bedroom property within the developer’s Tilal Al Ghaf community.Launched late last month, the residences, called Elan, were the first to be released among the widerDubai-based project, with buyers coming from the UAE as well as other GCC countries and internationally.
High interest in the Elan development reflects renewed optimismfor Dubai’s real estate market, evidenced by an increase in the volume of transactions (23 per cent) and value of investments (33 per cent) as reported by the emirate’s new House Price Index, Mo’asher.
Elan’s competitively priced properties were sold from AED 1.26 million for a three-bedroom townhouse and AED 1.53 million for a four-bedroom townhouse. The first release was offered with a highly competitive six-year payment plan, with 40 per cent of the property value paid over three years post-completion and a 50 per cent waiver on Dubai Land Department (DLD) fees.
Hawazen Esber–Chief Executive Officer, Communitiesat Majid Al Futtaimsaid:“We are thrilled to see that contemporary urban design combined with integrated public spaces and recreational amenities have prompted such an enthusiastic response from the market. From the very first days of launch, Elan attracted a great deal of interest to the development’s on-site Experience Centre as interested buyers came to discover our masterplan. This is a community that encourages residents to celebrate every day as if it’s a weekend, which is why such strong interest in Elan came as little surprise.”
Every elementof Elan and the wider Tilal Al Ghaf community aligns with Majid Al Futtaim’s approach to placemaking– a philosophy for creating authentic spaces that people can build emotional attachments to and a place to feel at home. The neighbourhood is ideal for families looking for a healthy, socially fulfilling lifestyle that helps them strike the perfect balance between work and leisure.
Hawazen Esber said, “Majid Al Futtaim has a track record for creating pioneering residential, retail, hospitality, leisure, and entertainment destinations with people at the heart, and Elan is no different. That’s why we believe this development stands apart as best in class among all residential categories, and a place residents are proud to belong to.”
Elan represents the evolution of Majid Al Futtaim’s properties business in Dubai and is part of its flagship Tilal Al Ghaf master planned community. The development is spread over three million square metresat the junction of Hessa Street and Sheikh Zayed Bin Hamdan Al Nahyan Street in Dubai, and neighbours the premium golf communities of Victory Heights and Jumeirah Golf Estates.
Elan embodies the very best of contemporary architectural design to ensure a refreshing blend of urban and natural characteristics. The primary living and dining areas are positioned at ground level,andconnect seamlessly with the private outdoor living spacesand extended park-like landscape in the public spaces. Spacious bedrooms and bathrooms are found on the upper floor, while the independent kitchens combine convenience with an elegant touch.
Tilal Al Ghaf’s centrepiece is the swimmable 70,000 square metre Lagoon Al Ghaf, fringed by palmlined white sandy beaches that accommodate a variety of watersports. Elan’s wider amenities ensure residents have many outlets for personal wellbeing and social interactions. These comprise an outdoor cinema, three community centres, and numerous fitness facilities including a tennis court, jogging track, and indoor gym. Meanwhile, reflecting the wider community name and honouring local UAE heritage, indigenous ghaf trees have been planted to create tranquil trails within this highly walkable community.
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