Abu Dhabi’s Bloom Properties has unveiled a mixed-use project that will be located in Dubai’s Jumeirah Village Circle neighbourhood.
The Bloom Heights project will consist of two high-rise towers linked internally by four podium levels, acccording to a statement. It will offer a total of 686 residential units ranging from studios to one-, two- and three-bedroom apartments that will have a starting price of AED 360,000.
Residents will have access to amenities like two swimming pools, a running track, gym, multipurpose hall and retail outlets.
Although the cost of the project was not revealed, the company has said that it is scheduled for completion in early 2019.
“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 fulfil the requirements of the country’s growing middle income population without compromising the quality of construction and finishings,” said Sameh Muhtadi, CEO of Bloom Holding.
“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.”
