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Asteco named exclusive sales agent for JVC project

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Virtue Properties selects Asteco to manage sales of new City Apartments development; urban lifestyle-focused project to offer clean open living spaces in Jumeriah Village Circle

Asteco, one of the region’s leading real estate consultancy and property management firms, has been appointed as the exclusive sales agent for the new City Apartments development located within the increasingly popular Jumeirah Village Circle community.

Under development by Virtue Properties, and set to be handed over in December 2016, the contemporary five-storey residential complex will feature 67 spacious one-bedroom apartments along with retail space.

Unit sizes range from 809 square feet for a one-bedroom with a community view, up to 1,272 square feet for a prime garden unit with selling prices ranging from AED 708,170 to AED 947,832.

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“We expect a high level of investor interest in this project, boosted by a very flexible 18-month payment plan, which calls for 10% upfront deposit, along with the DLD transfer fee of 4%, followed by eight quarterly instalments of 10-15% from April 2016 through to December 2017; a full year after handover,” said Sean McCauley, Director – Agency, Asteco Property Management.

The development is located on the outer ring of one of Dubai’s fastest-growing communities, Jumeirah Village Circle, which offers a family-friendly environment comprised of over 2,000 villas, townhouses and apartments, with average prices of AED 2.6m, AED 1.9m, AED 960,000 respectively, with rapidly developing infrastructure and excellent accessibility to the emirate’s major trunk roads.

A contemporary layout and clever use of space to maximise the living environment is the hallmark of the complex “City Apartments” with units ranging in size from 809 square feet for a community view apartment up to 1,272 square feet for a prime garden and pool unit.

“Modern design and innovation are integral to City Apartments’ market appeal. The cool urban feel and a building layout that encourages community interaction with the units surrounding the central swimming pool and communal areas will appeal to young professionals. Investors can expect high occupancy rates for their property while end-users have the advantage of an affordable property in a central location,” said McCauley.

The complex “City Apartments” features landscaped gardens, a swimming pool, gym and 24-hour reception as well as retail outlets providing essential services on the ground floor.

Centrally located with direct access to both Al Khail and Mohammed bin Zayed Roads, the city’s major shopping malls and within comfortable reach of schools, healthcare facilities and commercial districts, City Apartments is

“We selected Asteco as our sales partner for City Apartments as this is a landmark development for Virtue Properties, and we are positioning the project as a new genre of urban living – something that we are confident the team will market extremely successfully.  We will deliver a welcoming environment where owners can retreat to the peace and quiet of their beautifully appointed home while still being part of a vibrant multicultural community,” said Youssef El Kurdi, Chief Executive Officer of Virtue Properties.

Established in 2011, Virtue Land Real Estate Development Company is an expert in the provision of quality real estate and recognised for its contemporary design in some of Dubai’s very best locations, underscored by a commitment to customer satisfaction.

For more details, please visit www.asteco.com



Asteco, a major regional and international real estate services firm and the largest property services company in the United Arab Emirates, was founded in Dubai in 1985.  Asteco offers independent market analysis, design development consultancy and valuation services, sales and leasing services, as well as asset and property management services.



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