Shapoorji Pallonji’s $408mln Dubai tower set for 2019 handover
Shapoorji Pallonji, one of India’s leading construction groups, said the work on its iconic luxury tower, Imperial Avenue, had been 40 percent completed and was on schedule for handover by December next year.
Located in Downturn Dubai, the luxury residential project is being developed by the group’s property unit, Shapoorji Pallonji International Property Developers. This is the company’s flagship project in the UAE.
Construction of 28 floors has been completed in less than two years, demonstrating the company’s long-term commitment to the UAE real estate market and to this landmark project valued at over Dh1.5 billion ($408 million).
Cyrus Engineer, Managing Director at SP International Property Developers remarked that we are very with the progress of Imperial Avenue and delighted to announce that we are currently on schedule for a timely completion in twelve months.
“SPIPD prides itself on serving clients with transparency and honesty to meet contractual handover date. This confirms our commitment to our investors,” he stated.
A flexible payment plan
A flexible payment plan, that allows investors to pay a down payment of just 10 percent, subsequent payments of 20 percent of the property value during construction, and balance 70 percent of the property value upon project completion, has resulted in a comfortable sales position for the company.
Emphasizing on larger living spaces, this premium residential project epitomises a luxury lifestyle, offering plush 1,2,3,4 and 5 bedroom apartments, penthouses and podium level villas complete with lavish living rooms, designer kitchens, relaxing bathrooms and massive private decks.