Bloom Properties has announced a mixed-use project in Jumeirah Village Circle (JVC) in Dubai, marking the Abu Dhabi-based master developers foray into mid-market housing in the Emirate.
Scheduled for completion in early 2019, Bloom Heights will consist of two high rise towers linked internally by four podium levels.
The development offers a total of 686 residential units, ranging from studios starting at AED 360,000 to three bedroom apartments.
Sameh Muhtadi, CEO, Bloom Holding, said: The shortage of good quality, mid-market accommodation is a major challenge facing the real estate industry across the country. This project will allow us to meet the demand for mid-market housing and fulfil the requirements of the countrys growing middle income population without compromising the quality of construction and finishings.
He added: Offering estimated rental yields up to 11 percent, the project creates an unparalleled opportunity for investors in one of Dubais upcoming and strategically located communities.