Dubai Healthcare City (DHCC) said it has signed a partnership agreement with Swiss Property, a boutique real estate developer, to increase wellness residential capacity in the free zone’s Phase Two expansion at Al Jaddaf in Dubai, UAE.
As per the agreement, La Reserve Residences, will be jointly developed by both parties in DHCC’s Phase Two, which overlooks the widest stretch of the Dubai Water Canal, Dubai Creek and Ras Al Khor Wildlife Sanctuary.
In line with its strategy to become a global health and wellness destination, DHCC aims to strengthen key drivers in the wellness industry such as wellness-oriented real estate, thus meeting the demand for living spaces designed to optimise wellbeing, said a top official.
"We are happy to to work together with Swiss Property to tap into the wellness lifestyle real estate, one of the fastest-growing global wellness markets," remarked Bader Saeed Hareb, the chief executive of Dubai Healthcare City Investments.
The masterplan for Phase Two incorporates specialized health and wellness facilities, residences, retail, hospitality and leisure components. Till date, committed projects make up about 40 per cent of the Phase Two masterplan, he stated.
The new project with Swiss Property will complement the residential cluster in Phase Two, estimated to have more than 25,000 people living and working - once various projects are completed, he added.
On the destination concept, Hareb said: "In creating a world-class health and wellness destination, DHCC believes that a residential cluster is important to enhance the wellness experience and make the destination livable."
"DHCC’s focus is on long-term value creation for our partners in the DHCC community and for future residents who will call our wellness expansion their home," he added.
Designed in a unique Swiss healthy living style, the 230 unit project is expected to be completed by the end of 2019.
Swiss Property CEO Karim Adi said: "We believe healthy living can be nurtured by integrating active design concepts and making physical exercise a natural part of our everyday life."
"We support DHCC’s focus on wellness and are delighted to work with DHCC to develop a community that addresses today’s lifestyle challenges and enables residents to enjoy an elevated quality of life," he added.-TradeArabia News Service
DHCC, Swiss Property to develop wellness residences
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