Jumeirah Lakes Towers successfully completes residential cluster
• Cluster S with three towers and retail areas complete
• Signifies progress in enhancing JLT’s appeal as popular freehold destination
Dubai, June 26, 2010: The 200-hectare Jumeirah Lakes Towers (JLT) free zone administered by the Dubai Multi Commodities Centre Authority (DMCC) reached a significant milestone in its ongoing development with the completion of the S Cluster, one of 26 similar Clusters within JLT, which comprises three residential towers and will eventually support approximately 1,400 residents. Cluster “S” offers residents a premium community environment within the JLT, a mixed-use free zone in Dubai with freehold property options.
“The JLT development will consist of 87 towers and is well on its way to becoming a vibrant community with the first complete cluster being handed over at Cluster “S”,” said Ahmed bin Sulayem, Executive Chairman of DMCC. “JLT was conceived as a mixed-use development catering to both businesses and residents with the promise of a superior quality of life with its world class infrastructure and living amenities.
The completion of this first cluster reinforces this objective and signifies the sustained progress made by DMCC as a master developer to make the JLT free zone the most sought after address for residents and businesses alike.”
Cluster S boasts landscaping and walkways, promenade seating and retail, surrounding one of the four lakes that will eventually form the hub of activity in the JLT development. The JLT, when complete will house some 140,000 residents.
A dynamic community comprised of high-rise residences, expansive retail and spacious offices, JLT offers the best of all worlds, in new Dubai’s most desirable district. JLT will comprise 87 purpose-built towers and supporting infrastructure.
JLT houses DMCC’s headquarters and over 2,000 other local, regional and international firms. The development is fully equipped with state-of-the-art facilities designed to provide industry-specific support to DMCC member companies.
DMCC was created in 2002 as a strategic initiative of the Dubai Government to establish a commodity marketplace in Dubai. DMCC provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free-zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.