Italian Luxurious Units In Dubai Marina Listed At Dh30 000 Psm
Dubai marina:The ceilings, the walls and also the surfaces - every thing - in the bespoke apartments in Dh1.2-billion Damac Residenze project will be designed by Fendi Casa, Italian luxury house.
And those seeking to live in these distinctive models. from the 43rd to 84th amount, in Dubai Marina may have to spend Dh30,000 per square metre (Dh2,788 per square feet) to own them.
Damac Properties, a Dubai-based developer which has 68 towers under construction, said on Saturday that the 350-metre-high tower is currently under development and is planned for completion in 2016. The project, which includes over 200 units, will be built by Arabtec, said Ziad El Chaar, Managing Direcor, Damac Properties.
Even though the organization brochure does not show the size of a one - bed apartment or penthouses, a 1, 200 square feet unit will cost over Dh33 million while 3000 square feet penthouse will cost more than Dh84 million. Dubai marina properties are recently are high in demand.
Requested if Damac will include "flipping" of units within the job, El Chaar said the business was emphasizing getting end-users from India, the UNITED KINGDOM and Russia, it did not have any regulations to stop resale by investors.
The developer also unmasked the SR800 - million Damac Esclusiva Luxury Service Apartments, a 150 - metre - high tower ignoring the Empire Tower in Riyadh, Saudi Arabia, in connection with Fendi. The tower may have 100 luxury serviced apartments is under development. It is scheduled to be finished in 2016. Highlighting on the recovery of the local property market, Hussain Sajwani, Chairman, Damac Properties, said, "The real estate market in both Riyadh and Dubai are again performing strongly, notably in the high-end, luxury sector. We believe you will have a very advanced level of anticipation for these flats from people and international investors." Damac has completed 37 structures to date with 7, 817 units, there are 10, 000 units are under development and design. The company's new food division is established to control 4,000 hotel flats by end-2013.
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