Skycourts

[issac]

The UAE's National Bonds Corporation, creator of the popular nationwide savings program National Bonds, today announced the launch of 'Skycourts,' an upscale and affordable freehold residential community in the heart of Dubailand Residence Complex, the emirate's upcoming leisure, tourism and entertainment destination. The AED 1.5 billion Skycourts development, scheduled for delivery in the first half of 2009, will offer over 2,300 apartments across six towers. Apartments will range in size from studios to two-bedroom units, with prices from AED 279,000 to AED 898,000.

Today's announcement is considered to be the first large-scale commitment to providing high-quality dwellings at an affordable price in the emirate, and marks National Bonds Corporation's first foray into the real estate market.

Skycourts apartments will be offered for sale exclusively to National Bonds holders between December 9 and 15, and to the public thereafter.

Nasser bin Hassan Al Shaikh, Vice Chairman and CEO of the National Bonds Corporation, said Skycourts offers a new but simple concept in the local property market: 'Elegant Homes You Can Afford.'

'Property provides many people a long-term investment opportunity, and gives people a chance to feel secure and proud to be living in UAE,' Al Shaikh said. 'Property has become less affordable over recent years, however, and therefore out of reach as an investment opportunity. We hope Skycourts will readdress this balance by making property more affordable.'

National Bonds holders, he added, will be able to pledge their bonds for up to five per cent of the property value to reserve an apartment, and will retain their annual returns and access to the monthly prize draws on their pledged bonds.

Abdul Aziz Al-Muhairi, CEO of Dubai Bank, said the bank will provide all buyers with Shari'a-compliant financing under highly competitive terms, including a rate of 8.5 per cent for up to 20 years.

'Furthermore, the monthly installments to Dubai Bank will only start after the property is delivered to the buyer in the beginning of 2009,' Al-Muhairi added. 'This secures the buyer's investment and facilitates financing of their residential plans.'

Monthly payments for Skycourts properties will start from AED 2,422. The number of units per buyer has been capped at ten to allow greater access and participation in this first-of-a-kind opportunity.

Hashim Al Dabal, Chief Executive Officer of Dubai Properties, the master developers for the Dubailand project, also extended support to the National Bonds Corporation and its new Skycourts community.

'Dubai Properties is keen to provide a variety of residential options for the residents of the UAE, and we look forward to welcoming Skycourts residents to the heart of Dubai's new destination,' he said.

The strategically located Skycourts will overlook the luxurious 'The Villa' project and a number of Dubai landmarks, and will be easily accessible from key arterial roads including the Al Ain Road and Emirates Road.

Skycourts residents will also have access to world-class recreational and leisure amenities including health clubs and swimming pools, rooftop gardens and cafes, shops and free parking

 

[skylar]

The recent trend for proposals/approvals/construction of housing projects targeting the low-to-mid income market (such as this) is a very good move coming from the Dubai government. This is a very encouraging trend on my behalf as an observer/watcher of Dubai's ambitious plans/projects over the past five years.

 

[imported_bryant]

Dubai: National Bonds Corporation (NBC),the pioneer of Sharia-compliant national saving schemes, will hold an exclusive sale of Skycourts, the elegant and affordable freehold residential community in the heart of Dubailand Residence Complex, to National Bond holders and Dubai Bank customers from today to December 15.

 

[kody]

National Bonds Corporation (NBC),the pioneer of Sharia'a complaint national saving schemes, has sold out all the residential units it opened for sale at Skycourts, the elegant and affordable freehold residential community in the heart of Dubailand Residence Complex. The week-long sale was open exclusively to holders of National Bonds and Dubai Bank customers, following which the sale was intended to be made open to the general public. However, all 6 towers comprising over 2,300 units were sold out in 6 days, much earlier than planned. The AED 1.5 billion Skycourts project is scheduled for delivery in the first half of 2009.

'The response received from our bondholders and Dubai Bank customers was overwhelming and reflected their trust in National Bonds and the Skycourts' concept of providing elegant yet affordable housing in the UAE,' said Nasser Bin Hassan Al Shaikh, Vice Chairman and CEO of National Bonds Corporation. 'Approximately 40 per cent of the units sold out on the very first day of the sale and now we are closing the sale much earlier than planned.'

Skycourts will overlook the luxurious 'The Villa' project and a number of other Dubai landmarks, and can be easily accessed from key arterial roads including the Al Ain Road and Emirates Road.

Skycourts residents will also have access to world-class recreational and leisure amenities including health clubs and swimming pools, rooftop gardens and cafes, shops and free parking.

'We thank our bondholders for their trust in us and assure them that National Bonds Corporation is committed to ensuring secure investments as per the Shari'a law,' said Al Shaikh.

 

[imported_darren]

SkyCourts is an affordable, yet upscale, freehold residential community in the heart of Dubailand Residence Complex, the emirate's upcoming leisure, tourism and entertainment destination. The AED 1.5 billion development will offer over 2,300 apartments across six unique towers. Apartments will range in size from studios to two-bedroom units. All apartments were sold out in 6 days to bondholders, much earlier than planned.

EDARA will provide project management services throughout the scheme design and construction phases to handover, which has announced the project completion date to be around in the first half of 2009.

Phill Edmondson, the general manger at EDARA, said, 'Our aim is to become the preferred provider of project management services in the region. We have the talent and experience to add significant value to any development. Therefore, we are extremely proud to be involved in the building of the SkyCourts project, which contributes to His Highness Sheikh Mohammed Bin Rashid Al Maktoum's vision for Dubai and the country.'

EDARA has, in recent years, managed projects ranging from individual villas to large residential and leisure developments, commercial real estate, high rise, low rise and a racetrack delivered to FIA and FIM standards within the Clients time constraints.

SkyCourts is strategically located to overlook the luxurious 'The Villa' project and a number of other Dubai landmarks and will be easily accessible from key arterial roads including the Al Ain Road and Emirates Road. Residents will also have access to world-class recreational and leisure amenities including health clubs and swimming pools, rooftop gardens and cafes, shops and free parking.

 

[imported_pwashere]

Hello,

I've found this interesting site to keep up-to-date with the construction on skycourts.

Skycourts - Following its progress

hope it helps you guys.