Dubai: Azizi's $95.2m Royal Bay project 85% sold
Royal Bay Residence is a part Azizi’ $1.9bn current portfolio for thousands of apartment units in Nakheel’s Al Furjan and Palm Jumeirah districts in Dubai
Dubai-based developer Azizi Developments announced that 85% of its $95.2m (AED350m) Royal Bay Residence project in Palm Jumeirah has been sold.
The project is scheduled to be completed by second quarter of 2017.
Farhad Azizi, CEO of Azizi Developments, said: “Dubai is one of the fastest growing cities in the world and continues to boom as a prime real estate hub. With great interest from expatriates in the emirate’s ever-expanding developments, we felt a need to present potential homeowners with something unique.
"Not only does Royal Bay Residence provide high-end contemporary interiors and views along the crescent edge of the Palm Jumeirah, it also offers buyers and investors an appealing 80:20 payment scheme, which allows buyers to only pay 80% upon handover and grants a return on investment of up to 10%.”
Royal Bay Residence is a part Azizi Developments’ $1.9bn (AED7.3bn) current portfolio for thousands of apartment units in Nakheel’s Al Furjan and Palm Jumeirah districts in Dubai.
A 90-unit fully serviced, luxurious residential apartment building, Royal Bay is one of the few developments on the Palm Jumeirah crescent to offer a choice of 58 one-bedroom and 30 two-bedroom options, as well as two penthouses.
It also provides direct beach access, swimming pools, jacuzzi, a gymnasium, recreational options, and landscaped gardens.
The units have been sold with superior finishing, product and location all credited with the strong demand for this property.
The eight-floor building has been designed with 450 placement allowing the living rooms, kitchen, and bedrooms of each residence, sea views.