A collection of 104 luxury homes on Dubai’s Palm Jumeirah being built by Saudi-Qatar joint venture Al Sharq Investment is on track for handover next year.
The JV between Saudi Arabia’s Al Sharq Group and Qatar’s Al Mana Global said Alef Residences on the Palm’s West Crescent adjacent to a new W Hotel also developed by Al Sharq Investment, has topped out.
The Alef Residences, serviced by W Dubai, will comprise eight clusters in two buildings with two apartments per floor and five penthouses at the top of each.
The apartments will range in size from 4,800 sq ft to 15,000 sq ft. Prices will go up to AED268 million ($73 million) for a mansion property, while a duplex penthouse will cost AED51 million.
Residents will also have access to a private members’ club with dining area, lounges, a gym, spa treatment rooms and a cinema.
Architecturally, the project is inspired by the wadis and bastakiya, and is rooted in the Arabic in which it was born. It is scheduled for handover in the second quarter of 2017.
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