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In Response To Market Demand, The Developer Introduces 182 Single-Row Townhouses
As the UAE experiences strong demand for real estate, Dubai Properties has launched the final phase of townhouses at its Mudon master complex. A Dubai-based developer said in a statement on Tuesday that Mudon Al Ranim, which consists of 182 townhouses with three and four bedrooms, is the culmination of the Mudon community. Due to the significant demand from homebuyers, it was constructed.
There will be two different floor plans for the townhouses: ground plus one and ground plus two. The cost of the properties in the new development was kept a secret by the developer. Khalid Al Malik, CEO of Dubai Holding Real Estate, remarked that Mudon Al Ranim “exemplifies our commitment to serving the ever-evolving needs of homeowners.”
We deliberately developed residences that allow people a sanctuary for work and play. All inside the limits of their own homes, in response to the desire for space, privacy, and flexibility. Due in large part to government programs like residency permits for retirees and distant employees, Dubai’s real estate market has recovered strongly from the coronavirus-caused slump.
The UAE’s decision to broaden the 10-year golden visa program, the economic benefits of Expo 2020 Dubai, and rising oil prices all contributed to the momentum of the real estate market boom.
June saw the fastest increase in residential real estate prices in Dubai since 2014. According to statistics collected in May of this year, the average cost for homes in the emirate increased by 16.9% annually. Up from 15.9% annually, according to a report published in June by consultant CBRE.
In June, the average price of an apartment increased by more than 17% to Dh1294 ($352.6) per square foot, while the average price of a villa increased by 15% to Dh1525 per square foot. According to CBRE, the number of transactions in the emirate—the commercial and trading center of the Middle East—rose to 9,876 in June, an increase of over 19 percent annually.
According to CBRE data, off-plan transactions increased by about 45% in June, but secondary market purchases dipped a little. As per Dubai Properties, each home in Mudon Al Ranim would be built in a single-row arrangement.
In addition to other amenities, the complex will have jogging trails, picnic places, BBQ pits, swimming pools, and fitness centers. The townhouses in the neighborhood will have double-height ceilings and floor-to-ceiling windows. Mudon is situated where Al Qudra Road and Emirates Road converge.
Jumeirah Beach Residence, Business Bay, and housing developments in Dubailand are just a few of the mixed-use attractions that Dubai Properties, a division of the international investment firm Dubai Holding, has built throughout the city.
