Select announces sell-out of $2bn Dubai master community project
Following the final successful sale transaction of the Grade A office tower, Select Group has announced the completion of off-plan sales of its master community development, Peninsula, located in the heart of Business Bay.
Spanning 3.3 million sq. ft. of prime waterfront real estate, Peninsula blends residential, commercial, business, and world-class lifestyle amenities into one vibrant waterfront destination. It has a total gross development value of AED7 billion ($1.9 billion), said the developer in a statement.
Among Peninsula's 3,300 units across seven premium developments is the ultra-luxury Jumeirah Living Business Bay - a 35-storey tower developed in collaboration with Jumeirah Group.
This exclusive tower offers 82 well-designed residences, ranging from 2,007 to over 12,000 sq ft, as well as a suite of curated amenities and services, it stated.
These include concierge services, a guest relations team, on-site residential management, security, housekeeping, valet services and a residents' lounge, it added.
Select Group began its handover to investors earlier this year, soon after completing the delivery of Peninsula Five, The Signature Collection.
Soon to follow is Peninsula One, scheduled for early July 2025, followed by Peninsula Two and Peninsula Three, both scheduled for Q4. Jumeirah Living Business Bay is planned for Q1 2026, while Peninsula Four The Plaza is scheduled for handover in mid-2026.
The master waterfront community also features 122,800 sq. ft. of retail space, including a 66,000 sq. ft. mall, a 217,000 sq. ft. Grade A office tower of 80,000 sq. ft. of leasable space, green areas, and an array of sporting and family-friendly leisure amenities, all integrated into a pedestrian-friendly design.
With its exclusive waterfront location and vibrant local community, some of the most recognised retail brands, such as Spinneys, Yas Healthcare, Freedom Pizza and Half Cup, have confirmed their presence, with many others in the retail and food & beverage space in discussion to join these brands in the Peninsula community, said the statement.
At the heart of the Peninsula community is The Plaza, a standalone waterfront marketplace destined to become an iconic culinary destination. It spans an area of 17,000 sq. ft. over two floors, including a 6,000-sq-ft terrace with panoramic views of the Dubai Canal.
On the sellout, Group CEO Israr Liaqat said: "The completion of sales of Peninsula is a proud milestone for Select Group and a testament to our unwavering commitment to creating exceptional, well-integrated communities."
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