Al Waleed announces end dates for residential projects

Al Waleed Real Estate officials last week said construction on two residential developments in Dubai's Jumeirah Village and Silicon Oasis will wrap up in the fourth quarter of 2015.

The Jumeirah Village is an apartment complex featuring one- and two-bedroom units as well as duplex villas. It measures 99,485 square feet and sits on a 25,634-square-foot tract of land. Completion is projected for August.

Al Waleed Oasis is in Dubai's Silicon Oasis. It is a seven-story building filled with contemporary one-, two- and three-bedroom apartments. It measures 19,320 square feet and has a total building area of over 119,000 square feet. The projected completion date is December.

"Al Waleed Real Estate is taking carefully considered steps in the field of property investment and development," an Al Waleed spokesperson said. "It is undertaking these in line with industry performance and the current status of Dubai's real estate market, which is characterized by fierce competition between developers. The company has succeeded in attracting a large segment of buyers and investors to its distinctive projects in strategic locations across Dubai.

"These two new projects will soon be added to Al Waleed Real Estate’s expanding property portfolio in various development areas of Dubai's real estate sector," the spokesperson said. "They demonstrate the company's keenness to cater to the demand for real estate products, which is expected to grow in the next five years as we run up to Expo 2020."