Thursday, June 13, 2013

Damac launches first phase of sale for Akoya project

Leading developer of luxury real estate in Middle East, Damac Properties, has launched its first phase of sale for luxury villas within the Akoya project, the 28mn sq ft master development located off Umm Suqeim Road.

Akoya by Damac will be the most luxurious golf community in Asia, with premium-branded mansions providing a luxury living experience within a fully integrated community.

During the first phase of sales, 205 units are made available. Prices of the luxury villas will start at Dh.2.4mn.
The project will be the ideal one for elite customers, seeking a modern lifestyle in Dubai. Funding has been allocated and RERA has signed off on bank guarantees, said Zial El Chaar, the Managing Director of Damac.

Damac has completed the requisite formalities such as sale of plots, including complete payment for plots in Phase One. An Escrow account has been opened and RERA has received bank guarantees for infrastructure and construction.

The Al Naboodah Contracting Company has begun enabling works on the site.

The ‘Trump International Golf Club’ is at the heart of the project, and is the most recognized brand, developer, owner and manager of world-class properties.

Akoya by Damac will also include a boutique hotel and international schools, apart from fully-integrated community that will be home to globally-recognized retail and leisure brands, entertainment offerings, a sports complex, all characterised by beautiful manicured landscaping.

The project takes its name from one of the most exclusive pearls in the world, and is the largest in the history of Damac, reflecting the recent immense growth of real estate sector in Dubai.

According to El Chaar, this is the first time Damac has developed a full-fledged residential complex comprising villas and mansions to provide customers with new level of luxury, which further builds effectively on Damac’s huge experience of developing luxury apartments throughout the Middle East.

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