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Seven Tides Palm Jumeirah projects almost sold out

Seven Tides has developed its own portfolio of commercial, residential and resort properties all around the world

The Anantara Residences comprise 120 studios.
The Anantara Residences comprise 120 studios.

Dubai-based luxury property developer Seven Tides has released the latest update on sales of residences, hotel rooms and hotel apartments at its two Palm Jumeirah developments – the Anantara Residences and Dukes Dubai.

One-bedroom hotel apartments at the Dukes Dubai project are now 90% sold out with the developer recording unprecedented demand from investors across the region.

This follows the December 2015 release of phase one of the Anantara hotel rooms project, which saw all 73 units snapped up within days of the announcement, and 65% of the total number of Anantara Residences already sold.

“Both of our Palm Jumeirah projects benefit from the fact that they are luxury developments located within a luxury-led island community; with Anantara having the added value of the backing of a renowned global hospitality brand, and Dukes positioned as a quintessentially ‘Best of British’ lifestyle experience. This is being recognised by the investment community, particularly from within the GCC as a sound portfolio opportunity,” said Abdulla bin Sulayem, CEO, Seven Tides.

“We’ve had two exceedingly good months on the sales front, despite current market conditions, which reflects Seven Tides’ commitment to delivering quality products that are designed to speak directly to both end-users and investors,” said John Stevens, Managing Director, Asteco.

“We are seeing a lot of interest primarily from GCC investors, from Saudi Arabia, Qatar, the UAE, as well as India,” he added.

 

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Construction Week - Issue 753
Nov 09, 2019