Dubai – UAE: 26 February, 2018 – Dubai Industrial City (DI) today hosted an opening ceremony for the newly completed Sunbeam Homes project, an affordable housing development which adds to the sense of community and infrastructure at the designated district which offers a cost-effective and efficient business environment for the region’s manufacturing sector.
It is estimated that more than 680,000 people, or 30% of the Dubai’s workforce, earn between AED 2,500 and 10,000, and there is a vast shortage of affordable family apartments for households earning between AED 7,500 and AED 10,000.
Sunbean Homes, an affordable housing project, was first revealed at property and development trade show Cityscape 2016.
Saud Abu Al Shawareb, Chief Operating Officer at Dubai Industrial City, said: “We are delighted to welcome Sunbeam Homes to Dubai Industrial City. Dubai Industrial City offers our business partners an enabling ecosystem and integrated offerings of industrial land, labor villages, and warehousing facilities, as well as logistics support, commercial office space, open storage yards, and retail showrooms with storage, all with direct access to global transportation links within the emirate of Dubai.
“Standard Chartered predicting 300,000 new jobs between 2018 and 2021, largely due to the impact of Expo 2020 on the Emirate, and affordable housing has become a leading growth segment in Dubai because of these employment opportunities and population growth.”
Marwan Bin Ghalaita, CEO of RERA, the regulatory body in Dubai, was one of the special guests attending the event. He highlighted the importance of the project.. He said: “I am happy to see the concept becoming a project which allows investors to be happy with their investment choices within the premises of Dubai Industrial City. This affordable housing project enables a large number of investors to enter the real estate sector.”
Sailesh Israni said: “the 32 units comprises of living rooms, dining rooms, balconies, and car parking area. We are seeking to provide affordable housing to individuals and families through which monthly payments do not make more than 30% -40 % of their income, especially for couples whose joint income is AED8,000.
The Sunbeam Homes project, which was named runner-up in the Affordable Housing Category in the 2017 Gulf Real Estate Awards of Dubai Land Department, sets a new benchmark in the region’s real estate market by providing decent, practical and affordable options for couples and families.