Dubai-based Al Waleed Real Estate announced in a statement that construction work at its residential projects in Dubai's Jumeirah Village and Silicon Oasis will be completed during the fourth quarter of 2015.
Located in Jumeirah Village, the company's first project, named Al Waleed Residence Building, comprises one- and two-bedroom units, as well as duplex villas. The project spans an area of 9,242sqm (99,485 sq ft), and is located in a total land area of 2,381sqm (25,634sq ft).
The final handover deadline of the development will be determined at the end of August 2015, with selling of residential units to commence soon at competitive prices. Theprojectcontains community facilities, such as a swimming pool, gym, green areas and car parking spaces.
Al Waleed Oasis, the developer's second project located in Dubai Silicon Oasis, is a seven-storey development comprising contemporary one-, two-, and three-bedroom apartments, built on a land area of 1,794sqm (19,320sq ft), boasting a total building area of 11,055sqm (119,000sq ft).
Project handover is scheduled for early in December 2015.
"Al Waleed Real Estate is carrying out these projects in line with industry performance and the current status of Dubai's real estate market, which is characterised by fierce competition between developers" a company spokesperson said.
"Al Waleed Real Estate 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 the company's expanding property portfolio in various development areas of Dubai's real estate sector, and they demonstrate our 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."