Face to Face with Mr. Parvez Khan,Chairman,Pacific Ventures
By Anitha Lakshminarayanan
Pacific ventures shape up a residential community from their Pacific Village project in Dubailand.
PLANS ON HOLIDAY HOMES IN THE FUTURE FROM THEIR PACIFIC VILLAGE VILLAS IN DUBAILAND
After the Phase-II launch of their Burj Pacific signature apartments, Pacific Ventures, an Indian developer set in 2011 develops a residential community in Dubailand located next to the City of Arabia theme park.
Mr. Parvez Khan, Chairman, Pacific Ventures in an interview to Emirates Property-What’s your Property Cravings said “The Master Plan of Pacific village is designed by Mr. Manoj, an eminent architect with 15 years of experience from India and DUBAILAND officials were impressed with the layout and design of Pacific Village. It’s a gated community and close to the city of Arabia.”
“70% of our downtown project ‘Burj Pacific’ apartments are sold and we are also developing our project in Jumeirah village triangle and Jumeirah village circle that will be ready in December. Our Pacific Village Project will include 65 residential villas, 102 four-bedroom townhouses and a number of two-bedroom apartments and will be centrally located between Dubai International Airport and Al-Maktoum International Airport in the heart of DUBAILAND.”
The four-bedroom townhouses will come in two types, covering a minimum of 3,500-sq ft in size, the apartments will cover an area of 1,240-sq ft while the villas, starting from approximately 5,075 sq ft in size, will comprise of six bedrooms.
The entire development will span over 1.205, 915-sq ft. And will be fully equipped with a community center, open spaces, paved roads and parking spaces. Additional amenities will include a gymnasium and swimming pool and 900 sq ft retail outlet to serve community residents.
The overheated market of Dubai has slowed down to gain stability, inspiring confidence among investors and end-users.
“When we compare the market of 2008, the market is matured now. The old players who operated in the realty market for more than ten years are mindful about the current situation. Global crisis that hit in 2008 has given them a great learning to be watchful of the business around them.”
“It is more interesting to see the market now with all regulations in place, especially the property registration fee benefits the end-user and besides that a transparent market to operate.”
“All our transactions are systematic done via escrow account, certified by Rera.And we have a mixed bag of investors from countries like India, China, Pakistan and Russia.”
“When it comes to real estate, one has to plan long term, say about ten years that is when you yield more profit. And the real estate market is active when the population increases and now the demand for housing units will grow more as Dubai’s population is increasing rapidly. The supply what we have now will not be enough after ten years.”
Plans for Pacific Ventures include holiday home from Pacific village villas in the future
DUBAILAND, which is an international tourist hub, attracts millions of visitors to the global village, motor city and future developments include the city of Arabia theme park and much more.
“We are thinking of holiday villas in the future for which we have obtained permission. And this is a unique concept, wherein we can rent it out for short term to our clients as our townhouses are big with 5 bedrooms. If someone wants to rent it out we can help them too. Additionally, we might start a company that leases out the holiday villas.”
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