Work is under way at the 1/JBR project in Dubai. Courtesy Dubai Properties
Work is under way at the 1/JBR project in Dubai. Courtesy Dubai Properties

Dubai Properties starts construction of 1/JBR project



Dubai Properties has confirmed the start of construction of its flagship 1/JBR project.

It said that construction started with site mobilising and enabling works by the end of January. The final design has been completed and it is in the final stage of approval with the authorities.

The development is located at the entrance to Jumeirah Beach Residence and will offer panoramic sea views.

The registration of clients and customers with the intent of purchasing was launched in September 2015, and the tower is set for completion and handover in early 2019.

It features two, three and four-bedroom apartments and five-bedroom penthouses, spread across 46 floors, with a total of 153 units.

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Difference between fractional ownership and timeshare

Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.

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Name:​ One Good Thing ​

Founders:​ Bridgett Lau and Micheal Cooke​

Based in:​ Dubai​​ 

Sector:​ e-commerce​

Size: 5​ employees

Stage: ​Looking for seed funding

Investors:​ ​Self-funded and seeking external investors


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