The Arkadians – Creek View and Terraces Being Built In DHA Phase VIII

The Arkadians - Creek View and Terraces Being Built In DHA Phase VIII

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The Arkadians, being built in phase VIII on the beach, will be available for sale by the end of February 2012 when the foundations for the first two buildings are complete, said Aqeel Karim Dhedhi.

“Initially we will be offering 270 flats to the public,” he said, referring to the project, which was previously named Creek View and Terraces. “Right now, all I can tell is that there will be two towers in the first phase. One will have 20 floors and the other 30.”

Dhedhi is also one of the investors in Naya Nazimabad project where 4,000 plots were bought by mostly white-collar clients two months into its launch, making it one of the most successful schemes in recent years.

He did not share details about the price or size of apartments but according to reliable sources a flat measuring 2,200 square feet is likely to fetch Rs18.7 million. The offer price could move upwards as the developers are undecided on the Rs8,500 per square foot rate. But at this price, the project is even more expensive than Creek Vistas, real estate agents say.

It is unclear how many towers will be constructed but the entire project is spread over 43 acres, enough space for over two dozen such buildings.

The CEO of Citi Associates, a real estate consultancy, Shafi Jakvani, says demand for high-rise apartments in DHA has not subsided. “The appetite for such projects is huge. A flat at Creek Vista is going for Rs65,000 per month in rent. You can imagine the returns.”

This news was published in Express Tribune..

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  1. Rais Ahmed says:

    Prices in creek vista are artificially inflated. Better properties in Dubai cost much less.
    Arcadia etc are similarly inflated.

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