UCI signs $6M investment for construction of Gardens Residence, Ramallah
Ramallah - PNN
Union Construction and Investment (UCI), one of the largest real estate investment and development companies in Palestine, recently signed a new agreement for the construction of the Masyoun Gardens Residence, at an investment of roughly US$ 6 million.
The residential project, which is located in the most demanded neighborhood of Ramallah, is the latest of UCI’s investments, which are designed to provide comfortable housing in an affordable manner.
The signing ceremony was attended by Dr. Mohamed Al Sabawi, founder and chairman of UCI, Khaled Al Sabawi, CEO and Vice Chairman of UCI, and Mr. Fayed Shadeed, General Manager of Shadeed Company for General Contracting, the contracting company awarded the construction tender. Various members of the press were also present at UCI’s headquarters in Masyoun, Ramallah, where the signing ceremony took place.
Dr . Mohamed Al Sabawi opened the proceedings with a speech that welcomed all attendees and expressed his satisfaction with UCI’s latest investments and projects, saying, “We have a strong track record in managing real estate and development projects that provide for Palestinians. We are extremely proud to sign the agreement for the Masyoun Gardens, which comes as part of an on-going series of projects that have left a clear and positive mark on Palestinian society, notably our renowned TABO project.
Dr . Sabawi’ s speech was followed by comments from Mr. Khaled Al Sabawi, who added: "Masyoun Gardens focuses on affordability. It allows Palestinians to own an apartment in one of the most desirable areas of Ramallah, without a down payment and monthly instalments up to 10 years through direct financing with UCI starting at 490 JD (US$ 690) per month. This is the first time a residential project like this has been offered in Palestine. It contributes to our overall goal of making it easier for Palestinians to own apartments and live in dignity.”
Masyoun Gardens is located in a serene and highly desired location, and consists of four interconnected residential buildings, each comprised of 16 apartments of varying sizes, including 130m², 140m², and 155m² spaces. Each apartment consists of three bedrooms, including a master bedroom with a private bathroom, a living room, two bathrooms, a balcony and a kitchen with an additional storage room, whilst the 155 m² includes an additional guest living room.
Masyoun Garden also offers duplex apartments in the sizes of 301 m², 298 m², 274 m², 266 m², 251 m² and 240 m², which are to be spread across two floors connected via a modern internal staircase. Every apartment will come with a private parking space and a group of shared services such as elevators and a public garden.