Abu Dhabi developer completes ‘phase three’ of Bloom Gardens project near Khalifa Park
Bloom Properties has completed the third phase of its Bloom Gardens development near Khalifa Park in Abu Dhabi.
Bloom said on Sunday that it had completed construction work on the 147 villas and town houses ahead of a scheduled handover in the first three months of next year.
Bloom, part of the Abu Dhabi conglomerate National Holdings, said the additional three-bedroom town houses, semi-detached three-bedroom villas, as well as four- and five-bedroom detached villas, which are only available to Emiratis, would bring "critical mass" to its Bloom Gardens development.
A first phase of 123 villas at the project, which is off Salam Street close to the Sheikh Zayed Bridge, was initially launched in 2008 while a second phase of 55 more was completed at the end of last year. The development also includes Bloom’s Brighton College school. A fourth phase of the project is planned as well as a community centre, a nursery and a polyclinic.
According to Propertyfinder, three-bedroom town houses at the project are being marketed for between Dh2.9 million and Dh3.5m. Bloom said it was experiencing "strong demand from home buyers and investors" in a statement.
Last week, Cluttons reported that economic slowdown and falls in the oil price were forcing house prices in Abu Dhabi lower. "The top end of the villa market has borne the brunt of a diminishing rate of creation of senior level positions, while housing allowances have also continued to slip across the board," said Edward Carnegy, the head of the Cluttons Abu Dhabi office.
Abu Dhabi’s largest listed developer, Aldar Properties, reported last week it had opened sales of off plan villas at its West Yas development to all nationalities after marketing it last year exclusively to Emiratis.
( courtesy of TheNational )