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Dubai: Real estate developer Nakheel launched its new Jumeirah Park development of 2,000 villas on Wednesday, the company's first project since last September.
The 370-hectare site will house up to 20,000 people and will include two, three and four bedroom villas, with prices starting from Dh2.4 million. Construction is set to begin early next year and is scheduled for hand-over to buyers in 2009.
Located on Shaikh Zayed Road between interchanges five and six, the Dh6 billion development joins Nakheel's current portfolio, Jumeirah Islands, Jumeirah Village and Jumeirah Golf Estates which was the last project unveiled until on Wednesday.
The huge supply of villas will fill a gap in the market for developments aimed at families, according to Yousuf Kazim, senior general manager of Jumeirah Islands and Jumeirah Village.
"We have done our research and found there is huge demand in the market for high-end villas in a family friendly environment," he told Gulf News.
"A lot of recent development has focused on studio and one-bedroom apartments (in Dubai Marina), but there is still demand from big families for three to four bedroom homes. Jumeirah Park is a key part of meeting that demand."
Kazim said the villas will range from 3,595 to 5,509 square feet and will include double garages, private terraces, gardens and temperature-controlled swimming pools for four and five bedroom homes.
Other amenities include a children's day care centre, children's play area, a kindergarten through to secondary school and various banks, cafes and shops.
Police and fire stations will be supplied, as well as a clinic and hospital. The development's park theme will see jogging, cycling and walking trails included in open areas.
Nakheel officials speaking at Wednesday's official project launch in the Ibn Battuta Mall highlighted several eco-friendly features of the project, including insulated building materials for energy savings, water-reduction features, environmentally safe paints and recyclable materials and waste recycling facilities.
Sales began yesterday at the Nakheel Sales Centre near the Palm Jumeirah and in Ibn Battuta Mall. According to Kazim, the first phase of the project has been sold out, with some buyers queuing for hours to get their first choice.
"We're planning to bring forward the launch of the second phase to meet this unexpectedly high demand," he said.
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