Al Mazaya inks contract to build on plots in Dubai's 'The Villa'

Al Mazaya Holding will be offering new residential plots for construction of 30 villas in The Villa which will be sold at a later date, the company said in a statement.

Al Mazaya said it had decided to preserve these plots as part of the company’s assets to be sold when the demand in the UAE real estate market rises.

The announcement came after the company completed and delivered all the residential units at The Villa in Dubai Land in 2010.

Al Mazaya said it is seeing a rising demand for ready residential projects which provide a family friendly environment such as what “The Villa” offers to residents.

Al Mazaya Holding signed a contract worth Dh31 million with Metac General Contracting to build 30 residential villa. The plots are from 3600 to 7500 square metres and are expected to be delivered by end of 2012.

CEO Eng Naif Al Awadi said in the statement, “The plots we are offering for construction today are among the assets that Al Mazaya retained. We have noticed a growing demand for projects situated in populated and vital areas such as The Villa, which enjoys a family atmosphere, a stylish living environment and natural beauty. We are keen to design innovative units that cater to various lifestyles with special attention to perfect execution and finishing.”

The Villa in Dubai Land extends over an area of 35 million square feet on Al Ain Road near the Exit 18. The project includes 1814 villas with design inspired by Spanish Santa Victoria architectural system. The villas feature state of the art designs inspired by the architecture of Spanish ancient cities such as Cordoba, Granada, Valencia, Marbella and Mallorca.