Bloom Properties, a subsidiary of National Holding, declared its plan to launch a mixed-use, two-tower mega project named Bloom Heights at Jumeirah Village Circle, Dubai. The project includes 686 residential units linked internally by four podium levels, with a combination of flats, comprising studios, one-, two- and three-bedroom apartments. Amenities in Bloom Heights comprise a running track, fitness centre, swimming pools, retail outlets, and a multi-purpose hall. The Abu Dhabi-based developer said that the project is scheduled to complete in early 2019, and it will be one of the main attractions in the mid-market housing sector in Dubai, with an array of prices ranging from AED 360,000.
“The scarcity of quality, mid-market housing is a big issue facing the real estate sector in the UAE. This project of Bloom Properties will help fulfill the requirement of UAE’s growing middle-class population without compromising in quality of construction”, says Sameh Muhtadi, CEO of Bloom Properties. He also stated that the development offered estimated rental yields of 11 percent.
Bloom Property is a subsidiary of National Holding, a leading company in Abu Dhabi with interests in various sectors. It was founded in 2008 and focuses on property development, hospitality, education, interior design, property services, and contracting and landscaping in the MENA region.