UAE-headquartered Seven Tides on Wednesday announced that it has launched SE7EN City in Jumeirah Lake Towers (JLT), in Dubai.
The AED 1 billion project marks the first mixed-use development in JLT, the upscale residential, hospitality and commercial property developer said in a statement.
Commenting on the launch of the project, Abdulla Bin Sulayem, CEO of Seven Tides, said, “To sell out phase one of our project in less than one week is remarkable, particularly given the tough trading conditions many developers are facing.”
Bin Sulayem noted that the company offers an attractive easy payment option consisting of a 5% deposit, followed by payments equal to 6% of the cost price to be paid every subsequent quarter.
Spanning 3.5 million square feet, SE7EN City’s development phase comprises up to 2,744 units, while residential element consisting of 2,617 studio, one, two and three-bedroom apartments, Seven Tides noted.
It also features a limited number of duplex apartments, plus 78 hotel rooms.
The tower also features a gym, health club, infinity pool, children’s pool, a roof garden, cafes, other dining options, a large retail offering featuring 48 retail shops, covering 150,000 square feet over three floors.
The development will include a hypermarket, as well as car parking spaces totalling 2,718, with an additional 620 spaces dedicated to retail parking, including valet.
“SE7EN CITY JLT is designed to provide everything a resident might possibly want, with various retail options, entertainment, food and beverage outlets, gym and a health club. However, when residents do venture outside, they’ll still be able to enjoy the urban vibe, with the excitement and fast-paced, hustle and bustle of city life, right on their doorstep,” Bin Sulayem added.
The project is set to be completed in the second quarter of 2021.