DUBAI, 26 January 2007 — Aspire Real Estate, a leading real estate marketing consultant, has entered property development arena with the launch of Jehaan, a AED530 million residential project in Jumeirah Village South.
The project will comprise 12 grounds plus four residential blocks with 1,180 apartments, Aspire Managing Director Harry Kantaria said yesterday.
“Forty percent of the units will be studios, 40 percent one-bedroom and the remaining 20 percent will be two-bedroom units,” he said.
The studios will be available for AED275,000, one bedroom for AED550,000 and two bedroom apartments for AED700,000. Each apartment within the Jehaan development will come with a standard package that includes high quality ceramic flooring with marble textures, wooden wardrobes, ceramic walls and floorings in the bathrooms, black granite kitchen worktops, washing machine, cooking range and refrigerator.
“Our vision for this project was to bring to the market a development that was consistent in quality throughout and that our key partners will ensure these high standards are maintained from start to finish.”
To coincide with the Jehaan launch, Aspire announced an increase in the commission percentage rates for all real estate agents.
The company will now offer a commission percentage rate of four percent as against the current industry norm of 1.5 to 2 percent. As added incentive, the top two agents will receive a brand new BMW 3 and 7 series.
Kantaria said the project will be completed within 24 months from the date of construction. The design has been sent to Limitless, the master developer of Jumeirah Village South.
Aspire’s current investment portfolio stands at AED3.5 billion, and in 2007, it expects to add another AED7 billion worth of projects to it.
The company, which has already ventured into Bulgaria, also plans to enter South Africa, Morocco, India and Romania in the coming months, Kantaria noted.