The real estate market of the UAE is seeing a renewed commotion that is seeing newly launched projects being sold off at a quick pace. With the emirate continuing to offer quality stock with state-of-the-art amenities, the investors are turning up to secure profitable deals.
After Danube and Dubai Properties, master developer Damac has reported selling more than 800 apartments in its Aykon City development. The development consist of serviced hotel and residential apartments and provides an unmatched view of the Dubai Canal situated on Sheikh Zayed Road.
Damac Properties Managing Director Ziad El Chaar said the group had sold more than 800 units in Aykon City, including serviced hotel apartments and residential units in just 12 weeks.
“It is a testament to the desirability of Dubai’s real estate market, especially in the luxury serviced residences sector. The demand for the high-end, refined living in Aykom City is exceptional.”
Earlier, the real estate developer announced it had sold all units falling in phase one of the project by selling an average of five apartments a day. The company statement said the second phase of the project would be put on sale before the end of Ramadan.
Damac Properties also said the units had been purchased by investors from around 50 nationalities and 40 countries, including UK, China and India.
Another feature in Aykon City is also looking to attract adrenaline junkies with the development of the Aykon Dare on the 80th floor of the hotel. This feature will provide guests a chance to take an exciting walk around the outside of the tower’s roof, which also provides beautiful view of the city life from a glass-floor viewing capsule.
The project includes the Aykon Plaza, which comprise of restaurants, cafes and a beach club, along with a spa and luxury shopping outlets.
Meanwhile, talking about the location of luxury developments, El Chaar said, “Innovative luxury products in prime locations are driving the resurgence in the Dubai property market, with quality projects experiencing high demand from international buyers.” He added, “Dubai prices remain very competitive when compared to other international cities, and as confidence returns to the global markets, we are seeing a surge in investment.”