Damac will release new units during Ramadan / Image Credit: Picture courtesy of Damac
Damac Properties said more than 800 serviced hotel and residential apartments have been sold in its Aykon City development on Shaikh Zayed Road overlooking the Dubai Canal. The firm recently organised sales events in Dubai and Abu Dhabi last week, bringing phase one of Aykon City’s residential units to the market.
The luxury developer confirmed it has already sold out all units in phase one of the hotel apartment development, with an average of five apartments sold per day since the project was launched. The developer said another sales event for phase two is planned before the end of Ramadan.
“We have sold more than 800 units in Aykon City, including serviced hotel apartments and residential units in just 12 weeks,” said Ziad El Chaar, Managing Director of Damac Properties. “It is testament to the desirability of Dubai’s real estate market, especially in the luxury serviced residences sector.”
Investors have snapped up units in the project from as far afield as China, India and the UK. Almost 50 nationalities comprise the regional and international investor pool, residing in almost 40 countries.
“Innovative luxury products in prime locations are driving the resurgence in the Dubai property market, with quality projects experiencing high demand from international buyers,” said El Chaar. “Dubai prices remain very competitive when compared with other international cities, and as confidence returns to the global markets, we are seeing a surge in investment.”
Source: Special to Property Weekly