Dubai homes in JLT record $80m sales in one week
Seven Tides' 32.5ha development, Se7en City JLT, recorded these sales, and is on track to complete in 36 months
A Dubai project has recorded sales of $82m (AED302m) in one week.
Se7en City JLT, a mixed-use development in Dubai's Jumeirah Lakes Towers (JLT), posted the record sales.
Of the 32.5ha project's 2,635 units, 661 apartments were recently sold in week-long transactions.
The sales, worth $82m (AED302m), covered Phase 1 of the project.
Seven Tides said it would shortly unveil Phase 2 of the development, following Phase 1's successful performance.
Studios were the most popular unit type for buyers, with 572 studio apartments sold for a combined value of $62m (AED227m), followed by one- and two-bedroom units.
Indian investors have purchased 17% of the units so far, followed by UAE (7%) and Pakistan (7%) nationals.
The $354m (AED1.3bn) development by Seven Tides is due to complete in 36 months (Q3 2021).