H&H Launches 'Water Gardens' Worth AED 5.14 Billion in DIFC
H&H estimated the value of the 'Water Gardens' project in the Dubai International Financial Centre at AED 5.14 billion, stating that around 85% of the branded hotel units have been sold.
The value of the 'Water Gardens' project in the Dubai International Financial Centre (DIFC) stands at AED 5.14 billion (around $1.4 billion), comprising four buildings including two hotels, in addition to residential and office towers, according to Bloomberg as cited by Al Khaleej newspaper.
Chairman Shahab Lutfi stated that around 85% of the branded residential units in the project have been sold, and that work on site is progressing with the participation of approximately 30,000 workers.
Last week, the project recorded the sale of two Four Seasons-branded units worth AED 35 million and AED 45 million respectively, reflecting the demand for luxury units in the market.
The company aims to complete the project before the end of 2028, at a time when luxury developments are expanding in DIFC, which matters to investors and buyers looking for international hotel-branded units.
What do these terms mean?
Branded residential units: Residences managed by an international hotel brand, providing residents with hotel services such as housekeeping, maintenance, and reception services.
Mixed-use development: A single project that combines more than one activity, such as residential, office, hotel, and retail spaces, rather than being dedicated to a single purpose.
UAE Dirham: The official currency of the UAE, pegged to the US dollar at approximately 3.67 dirhams per dollar.
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