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Zesty villas target millennials

Posted by Irish Manluctao on July 11, 2016
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Damac is looking to attract young professionals and couples with Akoya Imagine / Image Credit: Picture courtesy of Damac Properties

Damac Properties has announced a new residential concept that targets millennials with colourful villas, lush greens and an international golf course. Akoya Imagine will comprise contemporary villas with an eye on young couples and families looking for a permanent residence or vacation home, according to the developer.

Phase one of the project will deliver three-bedroom villas with prices starting at Dh1.2 million spread across a three-year payment plan. Da-mac also offers free services charges for five years. The units will go on sale starting Saturday.

“Indoor and outdoor spaces are carefully arranged to offer a casual way of life that blends function with social, family living and an artful palette of colours,” the developer said in a statement. “Interiors are open, airy and splashed with zesty hues, which balance warmth with cooling tones.”

The project is located at Akoya Oxygen, a 55-million- sq-ft master development that features an 18-hole championship golf course by Tiger Woods Design.

“Akoya Imagine is targeted towards a new type of buyer – young, professional and savvy to the lifestyle and financial benefits of buying in an international golf course community,” said Ziad El Chaar, Managing Director, Damac Properties. “This type of community is proven to consistently yield higher returns than a purely residential one and there is a limited supply in Dubai. Combined with the Tiger Woods Design element, a villa in Akoya Imagine presents a very lucrative investment, not to mention an extremely attractive home.”

According to a report by advisory firm KPMG, golf courses typically increase the valuation of adjacent real estate by up to 20 per cent when compared to similar real estate in a neighbourhood without the golf course component.

Damac also announced that it has awarded 25 construction and consultancy contracts worth Dh3 billion in the first half of the year. The contracts include the main packages for more than 2,678 villas within Akoya Oxygen, as well as the main package for Golf apartment buildings at Carson – The Drive at Akoya by Damac.

“In Akoya Oxygen, the total number of villas now awarded exceeds 2,670. The golf course design is completed and we are making progress in the selection of the golf course main contractor,” said El Chaar. “In Akoya by Damac, the golf course is completed and the handover of approximately 766 villas is imminent.”


Source: Property Weekly PW