Tuesday, November 21, 2017 9:55 AM

Home / News

IGO announces commitment to invest in projects worth Dh2 billion by 2020


Invest Group Overseas (IGO), a Dubai-based developer, said it will invest in projects valued at more than Dh2 billion leading up to 2020, starting with a Dh500 million residential tower – IGO 101 – to be developed at the Jumeirah Lake Towers. With construction to begin in December 2017, IGO 101 is scheduled for completion in Q4 2020.

“With an investment of Dh500 million, the 195-meter tall residential tower that will include G+39 floors, promises to up the style quotient across Jumeirah Lakes Towers’ (JLT) already impressive skyline,” the company said in a statement. “As a privately-held creator of community-style developments, IGO is committed to delivering end-user focused products with high-ROIs, within committed time frames, at prime locations in the city’s most prominent areas.”

Dr Anas A Kozbari, Managing Partner and CEO of IGO, said: “IGO has been a part of the UAE’s story of growth and expansion for well over a decade, and we firmly believe that the growth trend is poised to continue. Testament to the vision of the leadership, Dubai is not just a city, it’s a brand, and we look forward to adding further value for citizens and residents through our upcoming projects, beginning with the launch of IGO 101.

“Aimed at creating residential solutions tailored for the end-user, IGO 101, JLT’s newest landmark, will redefine the affordable luxury segment. We intend to increase the inventory and plug a much-desired gap in the market for premium homes at affordable prices. As a timely and strategic development, IGO 101 will enable Invest Group Overseas to build on our legacy of shaping real estate products that offer good return on investment, while setting new benchmarks for the industry at large.”

In line with best-in-class quality codes that are a hallmark of every IGO project, IGO 101 will provide a suite of lifestyle and functionality services for discerning residents and investors in a premium and fashionable living space. Every detail - from maintaining absolute control on design and sourcing of raw materials to the final fit outs and fixtures in individual apartments – will be meticulously planned to ensure superlative quality.

Located in Cluster K of JLT, near Sheikh Zayed Road, in proximity to Dubai Marina and Al Maktoum International Airport, IGO 101 will comprise 449, one-, two-, and three-bedroom apartments. Each well-appointed apartment will boast high quality finishes, and feature a lounge, dining area, modern kitchen, and secluded bedrooms with attached bathrooms. Larger units will also include a powder room and laundry closet as well as a maid’s room.

Residents can enjoy a host of upscale facilities, such as a first-class gym with showers and saunas, a health club and squash court, outdoor swimming pools – including one for adults, a kid’s pool, jacuzzi and sundeck with loungers overlooking the lake below, a kid’s play area, as well as retail, food and beverage outlets.

According to Core Savills’ Dubai Residential Market Update Q1 2017, JLT has displayed higher resistance to further price drops in Dubai and is already marking gradual recovery due to its central location and proximity to economic clusters

With a portfolio of premium projects across Dubai to its credit, including the Polo Residences and the Polo Townhouses in Meydan, IGO’s developments are notable for their superior built quality and strategic locations. Focused on providing end-user specific residential solutions, IGO has delivered projects valued at more than Dh4.5 billion in the last five years.