Russian developer NAI Becar, in cooperation with the Indian construction company Sol Properties Development LLC, plans to launch a project to build a complex of apartments in Dubai. Its area will take 18 thousand square meters. The construction of three towers of the complex will cost US $ 30 million.
The project in the United Arab Emirates was announced by the head of NAI Becar Asset Management Group Alexander Sharapov at the international exhibition MIPIM in Cannes. Two years ago, the developer bought three land plots in the city with an area of 6 thousand square meters. They are located in the area of IMPZ (International Media Production Zone). At this territory the investor will conduct tthe construction.
The contractor for the construction of the complex will be the company Bhatia General Constracting Co LLC. The process of building of the project will run from autumn 2018 to March 2020.
About 80% of all rooms in the towers will be designed in the so-called “American” format. This means the functioning of the complex in the form of colwiging, in which apartments of 20 square meters with a bathroom and a kitchen for two rooms will be accommodated.
The planned profitability of the complex is stated at a level of 30% per annum.
The investor explains his plans for a high level of rental income in the real estate market in Dubai. Also, the developer expects that the successful launch of the project will contribute to the World Expo 2020.