Way before its official launch to the public, the latest residential project of one of leading developers in Dubai, Fakhruddin Properties, has already seen a rising demand. The two-tower building of the Maimoon Gardens project has now only a limited number of units left as property-buyers, investors, and aspiring unit-owners sign-up for the development of the residential towers.
It is note-worthy to mention that their first-ever closed deal was from a Filipino investor who’s smart and quick to invest in an eco-friendly home which will be nestled at the prime location of Jumeirah Village Circle (JVC).
Unlike other property developments, the focus on sustainability serves as a game-changer for Maimoon Gardens which is considered as a comeback project of Fakhruddin properties in the Dubai Real estate market.
Sustainability at its core
CEO of Fakhruddin Properties Yousuf Fakhruddin shared that apart from affordability, they consider the high-demand for an environmental-friendly living community as one of the main factors for the surge of investors in their latest project.
“The reason why we came back in the market after 2008 is that we’ve seen the environmental impact that everyone generates. We wanted to bring developments which are sustainability-based while making sure to not compromise their lifestyle. We strongly vale our mission to contribute to the global environmental goals,” said Fakhruddin.
Equipped with Special Smart Home Automations, Optimized Designs and Artificial Intelligence-driven amenities, the eco-friendly real estate by Fakhruddin properties promises to foster sustainable living in Dubai by 2025.
As its key highlight, the Maimoon Gardens aim to provide homeowners with the cleanest air in Dubai using a NASA based technology. Through a combination of technology systems, they have figured out a way to keep Indoor Air Quality of the highest standards in each of their planned apartments while still attaining energy savings of up-to 30-40%. The same technology serves as a protection against several airborne diseases.
The project also includes its own Waste Management Technology that will aide in segregating dry and wet garbage thereby reducing the combined carbon emissions by almost 1250 tonnes. It also features an advanced Centralized RO water tech which is connected to a hydroponic garden which will be at the center of one of their eco-facilities which is a coffee shop.
“I come from a background where air quality is important, food is important, and water is important. It’s just that sustainability has become part of the life now, it’s a need. You have to think in a sustainable way, if you don’t, you really disservice the future generations. So this is just something that I felt, we over here, all of us felt. And truth is, people care about it. We care about good air, we care about good water, and that’s the true luxury anyway. If you have the best sofa or the best view but if you don’t have a good quality air, which is more important for your health, then what for is all of this? We now have to an affordable level. People from any walks of life can actually enjoy this and that with the best amenities,” said Fakhruddin.
Affordable units
The towers will feature studio apartments, one to three bedroom apartments, offices and retail spaces.
“Maimoon has seen all kinds of investors: end-buyers, investors, people buying full floors, and people buying units. With the special payment plans that we have right now, a lot of individuals, even those with not very high salaries are also able to buy a unit by only paying AED 5,000 – 7,000 monthly installments,” said Fakhruddin.
Their special payment plan offers investors to pay 10% downpayment and 1% monthly installments. This allows them to pay 50% until completion and continue with the other half post-completion of the project. For instance, a studio with an estimate cost of AED 550 – 850k can be purchased by paying a monthly installment rate of AED 5,500 only. While a two-bedroom apartment can be purchased by paying AED 13,000 monthly.
“We want people to know the brand further. We stopped after 2008 because we were skeptical of the market. We are a very conservative company back then. Now, we are a very confident company,” said Fakhruddin.
The trend in the surge of unit purchases proves that the market is ripe for property buyers in Dubai and shows that home buyers are still after value for money.
“Building equity at the end of the day, to the people parking money away at 5,000-10,000, and they don’t know what to do with it – you cannot own a property like that. But if you have that option to buy something on the way, and you know that the equity is going to appreciate, you get better returns than if you put it in the bank,” he said.
World-class amenities
The luxury home which offers customized home automation which fully fitted decors promises a resort-like feel to its residents.
Maimoon Gardens includes a Zen Garden, Cascading Waterfalls, a Lazy River, a Meditation garden, a Community Green House with Radiant Cooling Technology, as well as a vertical Herb Garden in each unit which offers apartment owners a healthier lifestyle.
Inside each unit, apart from the Smart lock for every room, it also has an advanced technology which allows adjustment of the room’s temperature, music, lights, blinds through a voice or cube command.
The development is projecting energy savings up to 30%, enhanced convenience and reduced carbon footprint with their installed technologies.
Humble beginnings
Fakhruddin Properties which now operates internationally with residential and commercial projects in in UAE, UK, and Uganda, began when the late Fakhruddin Ebrahimiji of Fakhruddin Holding traveled from India back in 1963.
“My grandfather started it all, when he came over here, he had nothing. He used to sell things in a cart, buying and trading anything,” said Yousuf Fakhruddin.
They were one of the first families to establish a business in Dubai in the 60’s. Decades later, they now have a diverse portfolio of successful businesses that serve the needs of a global audience.
Now that their company’s vision is set on taking care of the environment while meeting their clients’ needs, Yousuf Fakhruddin hopes that more businesses will also take up their trades to a more sustainable level.
“We hope more companies will follow suit,” said Fakhruddin.
