DUBAI HEALTHCARE CITY PARTNERS WITH SWISS PROPERTY DEVELOPMENT TO DEVELOP WELLNESS RESIDENCES IN PHASE 2

Dubai, May 18, 2017: Dubai Healthcare City (DHCC), the world’s largest healthcare free zone, today announced its partnership with Swiss Property Development, a boutique real estate developer, to increase wellness residential capacity in the free zone’s Phase 2 expansion in Al Jaddaf Dubai.

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 optimize wellbeing.

As per the agreement, the new project, La Reserve Residences, will be jointly developed by both parties in DHCC’s Phase 2, which overlooks the widest stretch of the Dubai Water Canal, Dubai Creek and Ras Al Khor Wildlife Sanctuary.

The masterplan for Phase 2 incorporates specialized health and wellness facilities, residences, retail, hospitality and leisure components. Till date, committed projects make up about 40 percent of the Phase 2 masterplan.

The new project with Swiss Property Development will complement the residential cluster in Phase 2, estimated to have more than 25,000 people living and working – once various projects are completed.

Bader Saeed Hareb, CEO, Dubai Healthcare City Investments, said, “We are pleased to partner with Swiss Property Development, and to work together to tap into the wellness communities and lifestyle real estate, one of the fastest-growing global wellness markets.”

On the destination concept, Hareb explained, “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 liveable.” He added, “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.”

La Reserve Residences will have 230 units, comprising Swiss style, high-quality one- to four-bedroom apartments. The theme incorporates holistic elements, integrating the indoors and outdoors – visually or through connected activity. From open terraces, outdoor activity areas and greenery to pedestrian trails, running tracks, pools, gyms, and expansive greens for recreation, the project will promote health and wellness. The project will be completed by the end of 2019.

Karim Adi, CEO of Swiss Property Development, 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 preventative care to address today’s lifestyle health challenges and improve public health. We are therefore delighted to partner with DHCC to develop a community where healthy living can be nurtured.”