Apartment units snapped up by investors on first day of sales; unprecedented response to value-driven investment proposition in most desirable location of Dubai

Dubai, United Arab Emirates : DAMAC Properties, a leading luxury real estate developer in the region, announced an unprecedented response to units in Vera Residences, located in Business Bay. The luxury apartments, which boast breathtaking views of Dubai Canal, went on sale on November 4 and more than 85 percent of units released were sold on its first day of sales.

Priced from AED 499,000, investors snapped up apartment units in the 30-storey tower, which features elegantly appointed interiors and access to world-class amenities in an attractive and central location in Dubai. Due to the high demand, only a limited number of units remain.

Niall McLoughlin, Senior Vice President, DAMAC Properties said: “The overwhelming demand we witnessed for our latest project Vera Residences reaffirms the success of our strategy to provide investors with the right product at the right price. We thank our customers for choosing our value-driven real estate projects which we develop to meet  customer  demand.  By listening to what our existing and potential customers want and focusing on product innovation we are able to present apartment units across a spectrum of prices based on design, amenities and, most importantly, location.”

“Our customers recognise good value and Vera Residences represents an ideal investment opportunity in one of the most desirable locations in the city, with high rental yields that can potentially reach ten percent per annum. Thanks to our attractive payment plans, owning a home or investment property is now more attainable,” continued McLoughlin.   

Vera Residences’ easy payment plan includes an initial deposit of 20 percent plus DLD registration fees, followed by monthly payments for a 35-month duration, as low as AED 4,990. Furthermore, in the special payment scheme, 40 percent is due upon completion of the project.

Vera’s close proximity to the prestigious Downtown Dubai district will provide the ultimate lifestyle for residents and the ability to live in a thriving community with connectivity to the city, by car, water, or metro.

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Get more information at www.damacproperties.com

DAMAC Properties has been at the forefront of the Middle East’s luxury real estate market since 2002 – bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the utmost quality. The company’s footprint now extends across the Middle East with projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and the United Kingdom.

As of 30th September 2017, DAMAC Properties has delivered approximately 19,855 homes. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.

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For more information, please contact: Sherif Elghamrawy, Assistant Vice President, Corporate Communications, DAMAC Properties. Tel: +971 4 3731000 │Email: mailto:sherif.elghamrawy@damacgroup.com

© Press Release 2017