|10-01-2014, 12:05 AM||#1|
Dubai welcomes Apex as first Chinese real-estate developer
Apex Real Estate Development will launch "The Royal Gardens", a residential project in Mohammad Bin Rashid (MBR) City, becoming the first Chinese real estate developer to enter Dubai.
The China-based real estate developer affirmed that it will be in line with Dubai Municipality’s Green Code Building regulations and will cover an area of 6 million square feet and with 878 residential units comprising townhouses and villas.
“The Royal Gardens is our inaugural project and our main goal is to provide luxury living at affordable prices," said Mustafa H Yassin, Apex`s sales and marketing manager.
Yet details regarding the prices remain unveiled and concerning this specific topic. “We are not here to sell (at Cityscape). The law states that you are not allowed to start selling unless you have all the necessary approvals in place and the escrow account is opened," Yassin said
He also suggested that he will follow these laws and "once everything is in place, we will then start revealing our prices and layouts.”
As for the overall project, it is expected to be finished around the year 2019 according to Yassin whom added: “Everything needs to be in place just before 2020.”
This is the first project developed by a Chinese real estate in Dubai, pointing to further collaborations between the two countries and further foreign investments in UAE.
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