The luxury Dubai Sports City development, Victory Heights, reached a new milestone this week as the developer handed over the keys to the 600th villa of the 794 phase one villas.
The Victory Heights phase one aims to be fully completed by the end of 2010. This is positive Dubai property news as there continues to be a relative shortage of luxury villa accommodation for the city’s executive expat population. While certain Dubai villas communities have seen price drops, especially in the Emaar built Springs community, the luxury Palm Jumeriah villas on the other hand have seen steady price increases during the past quarter as there continues to be a lack of large high-end executive family villas.
The properties in Victory Heights are built in three styles: Spanish Andalusian, bold Mediterranean and classic European and are surrounded by the Ernie Els designed 18-hole championship golf course The Els Club.
The Golden Mile will finally come to life at the start of 2011! Retail and leisure stores to include a large Waitrose supermarket on the Palm Jumeirah.
In an exciting and much awaited announcement, IFA, the developer of the Golden Mile announced that it had finalised leases for some if its retail units. The flagship store will no doubt be the 1,140sq m Waitrose supermarket. Â Starbucks, a Boots pharmacy, Optvision opticians and a Dr Nicholas & ASP medical centre will be amongst the first few offerings in the Golden Mile.
The Golden Mile is a high end residential development of 10 buildings stretching for almost a mile down the middle of the Palm Jumeirah trunk. The Golden Mile has retail spaces all across the ground floor of its connected buildings. Residents on the Palm Jumeirah have long been eager to see these retail space occupied. However, like many developments in Dubai progress has been slow despite the buildings having been handed over to owners and residents several months ago.
This is excellent news for the many residents of the Palm Jumeirah. This also brings a certain level of confidence back to the market. The addition of such brands as well as the excellent convenience and enhancement to quality of living they offer is a big boost to the Palm Jumeirah which has recently received criticism for failing to live up to its billing as the 8th wonder of the world.
The announcement signals only the first  of a wave of businesses to set up in the Golden Mile. It is expected that that a lot more stores will be announced soon. The Waitrose Palm Jumeirah store is expected to open in April 2011. Waitrose had earlier met their ambitious deadline to open their store in Dubai Mall. The only question that remains is whether Nakheel will make any strides in finishing the park, which currently sits as a sandpit, in time for the grand opening.
The Dubai hotel industry has had a difficult time in 2010 with an increased supply of hotel rooms – up 13% from 2009 – however the summer Ramadan month is a traditionally good time for hotels in the UAE with many tourists coming to Dubai to celebrate the holy month with friends and family.
Many hotels are already promoting their Ramadan special offers and Iftar meal deals with some offering excellent discounts of up to 20% for those who book hotel rooms in Dubai before the start of Ramadan.
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