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.
business@thenational.ae
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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.
Company profile
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
