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Dubai, UAE - Prestigious developer SRG and global property investment firm Select Property today announced the launch of sales in the exclusive Marquise Square development. Located at the very heart of Dubai’s Burj Khalifa District, the building will provide 237 studios to address the significant undersupply of studio apartments in the area. The project is scheduled for completion in Q4 2018.
The scheme, named “Marquise” to reflect the building’s diamond shape and façade design, offers unparalleled luxury and quality, just minutes away from the world’s tallest building and the Dubai Water Canal. The 29-storey building will comprise of a range of immaculately finished studios, one-bedroom, two-bedroom and three-bedroom apartments. Facilities include; a swimming pool, gym, children’s play area, prayer room, sauna and steam room, restaurant and retail space, and a 24-hour concierge.
The Burj Khalifa District is a haven for investors and residents, boasting the rental premiums of neighboring Downtown, while mirroring the affordability and growth potential of nearby Business Bay. The area has seen 60-100% increase in land values over the past five years and the nearby construction of the Dubai Water Canal will turn this part of Dubai into a Manhattan-style island, further boosting property values. Additionally, with World Expo 2020 on the horizon, property experts are confident that popular districts like Downtown Dubai can expect capital growth to reach 35-50%.
The development is being crafted by the highly-regarded Emirati developer, SRG, run by the second generation of the Abdulsalam AlRafi family. SRG are behind the iconic Sheraton Grand Hotel and the 56 floor Burj Al Salam Towers, and have delivered a large portfolio of projects across Dubai and London. Marquise Square is a collaboration with Select Property, a global developer, retailer and operator of market-leading property investment brands, who are the exclusive sales and marketing agent for the scheme.
Speaking about the development Adam Price, Managing Director of Select Property Middle East, said: “Marquise Square is the perfect solution for smart investors looking for a high return on capital and for end-users looking for a prime location with spacious living quarters. We pride ourselves on finding the most sought after investment locations and partnering with the best developers in the Middle East and so we are thrilled to be working with SRG on this project.”
“There’s a surprising undersupply of studio apartments in the area due to the huge strains placed on developers to provide sufficient car parking spaces. Marquise Square has been designed to address this undersupply by offering residents large studio apartments with dedicated parking spaces for each unit along with many other amenities.”
Commenting on the Marquise Square development, Fahad Al Rafi, CEO of SRG, said: “We are delighted by the partnership with Select Property and are looking forward to delivering our superior and unmatched quality to Marquise Square in the Burj Khalifa area, a district primed to become a social and thriving commercial hub.”
“Marquise Square has been designed to maximize yields for investors by offering spacious, yet efficient luxury apartments, each offering a view of either Burj Khalifa or the Dubai Water Canal through its unique diamond shaped design. The development embraces best practices in efficiency and sustainability, and we are excited to see it open towards the end of 2018.”
The focus on studio apartments will enable investors to drive higher returns by capitalizing on the demand for entry level rental units in the area, making it a highly lucrative opportunity for investors in the region.
The vision of Marquise Square will be brought to life by Dubai Contracting Company, known locally as DCC Group, one of the leading names in regional construction over the last 50 years. Marquise Square’s projected completion date is Q4 of 2018, boasting superior quality in conjunction with a range of unit sizes. The development will house a total of 384 units including 237 studios, 59 one-bedroom, 70 two-bedroom and 18 three-bedroom apartments, with sizes ranging from 474 to 2323 square feet and prices starting from AED 895,000.
For more information, visit www.marquisesquare.ae
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About SRG
Dubai based SRG is one of the leading family owned Real Estate companies in Dubai, with extensive operations in property development and management, hospitality, wholesale trading, and investments.
SRG develops and operates a prestigious portfolio of real estate assets in Dubai and London. Skilled in adding value at all levels of the property supply chain, from land acquisition and project development to leasing, sales and facility management, the company delivers superior results to its clients, tenants and customers.
For more information, visit www.srg.ae
About Select Property
Select Property is a global property investment company that has been operating in the Middle East for over 10 years. It develops, sells and manages award winning property brands in the UK and is SRG’s Master sales agent for Marquise Square.
With offices in Dubai, London (UK), Manchester (UK), Singapore and Shanghai it has a loyal and longstanding investor base across the world.
For more information, visit www.selectproperty.com
Mohaned Mahgoub
Account Manager | Edelman Middle East
m: +971 50 382 7834
a: Boutique Villa 3, First Floor, Dubai Knowledge Park
p: PO Box 503223, Dubai, UAE
w: www.edelman.ae
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© Press Release 2016
