DAMAC Properties Launches 28 Million Square Feet, 'Akoya by DAMAC'
Dubai, United Arab Emirates: 30 April 2013: DAMAC Properties, the largest private developer of luxury real estate in the Middle East, announces the launch of 'Akoya by DAMAC', a 28 million square feet master development off Umm Sequim Road in Dubai.
'Akoya by DAMAC' will be the most luxurious Golf community in Asia, with premium branded mansions, villas, townhouses and luxurious apartment units. The project will include an 18-hole PGA Championship Golf Course at the heart of the development, in addition to a sumptuous spa, boutique hotels and international schools from kindergarten to secondary level.
The fully-integrated community will also include globally-recognised retail brands, leisure & entertainment offerings, a sports complex and beautifully manicured landscaping throughout.
'Akoya by DAMAC', which takes its name from one of the most exclusive pearls in the world, will create a thriving living environment aimed at meeting the demand of those living and working in Dubai and the region, as well as those holidaying there.
The project will include distinctive architecture, lush landscaping and unrivalled five-star service in every element of the luxury living environment.
The development will be the largest project by size and scale which DAMAC Properties has ever launched, further confirming the stabilisation and upturn in the Dubai real estate market.
"We aim to make 'Akoya by DAMAC' the most desirable living environment in Dubai for aspirational professionals who recognise ultimate luxury," said Mr. Hussein Sajwani, Chairman, DAMAC Properties. "The development will bring a blend of high-end, five-star living, with unrivalled facilities and create a haven for families looking to make Dubai their home."
The latest report from Jones Lang LaSalle showed that valuations of apartments and villas in Dubai had continued to climb. In the first quarter of this year prices were up 18% in prime locations. The report also stated that 'for the first time since mid-2008, all sectors of the Dubai real estate market are currently positioned in the recovery stage of the market cycle.
"We are in advanced discussions with a number of leading global brands to make 'Akoya by DAMAC' the most sought-after area in Dubai," added Mr. Sajwani.
The purchase of land from Dubailand has been completed and all required paperwork has been received.
DUBAILAND® is a popular district of Dubai that includes entertainment, sporting, shopping and residential communities. The destination hosts a number of diverse attractions including Miracle Gardens, Sports City, Motor City and Global Village. It is well connected to key highways making it within quick and easy reach of prime costal and downtown areas.
DAMAC Properties has completed 37 buildings to date with 7,817 units and spanning 13,945,299.00 sq feet. DAMAC Properties also has a further 66 buildings at various stages of progress across the Middle East and North Africa region. These consist of 12,100 units.
More details will be made available to visitors to the Arabian Travel Market, taking place at Dubai International Convention and Exhibition Centre from 6-9 May 2013. Visitors will find the DAMAC Properties stand at Sheikh Saeed Hall, stand 5,560.
Further information is available at www.damacproperties.com
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About DAMAC Properties:
DAMAC Properties was established in 2002, as a private residential, leisure and commercial developer in Dubai and the Middle East. In the past decade, DAMAC Properties has expanded rapidly into North Africa, Jordan, Lebanon, Qatar and Saudi Arabia.
DAMAC Properties has completed 37 buildings to date with 7,817 units and spanning 13,945,299.00 sq feet. DAMAC Properties also has a further 66 buildings at various stages of progress across the Middle East and North Africa region. These consist of 12,100 units.
In June 2010, DAMAC Properties further reinforced its position as the region's premium developer with the launch of DAMAC Tower in Beirut, Lebanon. A 28 storey iconic tower, this project is in association with Italian design group, VERSACE, with all interiors being designed by Versace Home. This was followed by the DAMAC Residences with Interiors by Versace Home, launched in Jeddah, Saudi Arabia in June 2011.
DAMAC Properties' most recent expansion was to develop two iconic projects in partnership with FENDI Casa. The stylish Italian fashion house will provide the interior designs on luxury serviced hotel apartments in DAMAC Esclusiva in Riyadh and private apartments in DAMAC Residenze in the Platinum real estate strip in Dubai Marina.
The company is also working with Paramount Hotels & Resorts to develop a US$ one billion hotel and luxury serviced residences in the Burj Khalifa area of Dubai. 'DAMAC Towers by Paramount', will comprise a Paramount Hotel & Residences and DAMAC Maison-Paramount co-branded serviced hotel residences.
The company's projects are located in the most desirable and exclusive locations and are built to the highest quality specification that has become synonymous with the group. DAMAC Properties' develop projects that include residential, commercial and leisure facilities that create an integrated community.
In October 2011, DAMAC Properties launched its hospitality division which will provide bespoke services to residents in more than 4,000 serviced hotel apartments, which will be completed or under development by the end of 2013. This will position the company as one of the largest Hotel Apartment operators and developers in the region.
In addition to support services provided by the Dubai headquarters, the company's comprehensive Customer Care Program provides solutions through its vast network with offices in the UAE, UK, Jordan, Iraq, Lebanon, Egypt, KSA and Qatar.
Further information is available at www.damacproperties.com or join DAMAC Properties on Facebook, Twitter and YouTube.
© Press Release 2013
