Town Square – Project Overview

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CORONAVIRUS IMPACT

Town Square is a mega development, which will eventually feature 18,000 apartments and 3,000 townhouses and it is planned to cover an area of 750 acres. So far, approximately 1030 units have been launched according to the developer. The entire project will take 10 years to complete. However, every year approximately 3,000 units will launched on the market.

The project is being developed with the aim to meet high demand for more affordable housing in Dubai. Homes are offered for sale with flexible payment plan and financing options from three banks.

The development will be situated in the desert near the Arabian ranches. By the time it will be completed, it will include 600 retail stores, commercial and hospitality units, the developer says. Town Square will offer various amenities, like paved and natural running tracks, a kids’ play area, cycle tracks, two football fields, swimming pools, 25 outdoor gyms, as well as green spaces. What is more, in a typical Dubai fashion, it will also include one of the world’s biggest central parks. It will have a central fountain feature and it will offer free Wi-Fi.

As part of the project, the district will be home to a boutique luxury hotel called Vida Town Square Dubai with a capacity of 180 rooms which will offer views to Town Square’s central park. Also, the hotel will offer a great diversity of beverage and food outlets, as well as fitness facilities, swimming pool and a spa. Guest of the hotel will be able to enjoy a shopping spree at development’s retail precinct, which will span over an area of 2.5 million sq. ft. The shopping precinct is planned to include a Reel Cinemas complex and 600 brands.

towns-squire-homeAl Zahra community of townhouses is the first phase of the Town Square development. The concept of the homes target professionals with an average monthly salary of about AED 20,000. In other words, the Town Square project is one of the few more or less affordable options for middle-income buyers.

Zahra Townhouses will be situated in the northern part of the Town Square development. It will include 3- and 4-bedroom units with a starting price of AED 999,888. Zahra 3-bedroom units will spread across 200 to 208 square meters, while 4-bedroom units will be 225 square meters. Each of the townhomes will feature an open bistro kitchen layout, a private rear garden, covered garage a room for domestic help, as well as a private rear garden.

The first phase of the Town Square development is expected to be completed by the end of 2017. The estimated price of Zahra Townhouses is AED 1 billion.

Hayat is the the second phase of the residential townhouses development Town Square. It will be set within the development and it will feature 730 townhouses. The houses will include units with either three or four bedrooms. Each of the Hayat townhouses will have a master-bedroom that will come together with en-suite bathroom. The units will also consists of a garage with a two-car capacity, as well as a private terrace. The exact completion date of Hayat is yet to be announced.

The fact that Hayat townhouses will also be within the same price range suggest that they will, too, enjoy attention from many end-buyer who fall into this category. The units in the second phase of the Town Square development will target families, couples, as well as singles.

Despite recently release advertising campaigns, the purchasing process for this homes is not precisely organised and rather follows Emaar’s strategy for new project launches. Many industry insiders believe that the master developer behind the affordable housing concept is Emaar Properties as the leading executives appointed to develop Town Square are mostly Emaar ex-employees.

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