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| 29 October, 2017

The Alef Residences Sets a New Standard in Luxury Apartment Sales Confirming Solid Demand for Niche Ultra-Luxury Properties

Dubai UAE -Committed to setting new benchmarks of excellence, The Alef Residences, located on the coveted West Crescent of Palm Jumeirah, has achieved sales totaling AED 110,000,000 within just two months, confirming solid demand for such niche ultra-luxury

The Alef Residences Sets a New Standard in Luxury Apartment Sales Confirming Solid Demand for Niche Ultra-Luxury Properties
Recent apartment sales at The Alef Residences range from AED 16 to 25.5 Million

A Destination living experience serviced by the W Dubai - The Palm to welcome first residents in 2018

Dubai UAE -Committed to setting new benchmarks of excellence, The Alef Residences, located on the coveted West Crescent of Palm Jumeirah, has achieved sales totaling AED 110,000,000 within just two months, confirming solid demand for such niche ultra-luxury properties.

The Alef Residences, which will officially welcome its residents in 2018, is part of a unique destination envisioned by Al Sharq Investment (ASI) and serviced by the adjacent five-star hotel, The W Dubai - The Palm. This exclusive development comprises just 104 residences over two buildings, making for a very limited collection available to an extremely select few. Known for its spaciousness, the prestigious address offers a collection of homes ranging in size from 5,000 to 15,000 square feet, with a choice of individual apartments, garden homes, and penthouses.

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Further testament to demand for ultra-luxury properties that deliver excellence across all aspects of the lifestyle experience, is the most recent sale at the spectacular Alef Residences. A four-bedroom apartment, which sold within just a few minutes of viewing.

“Walking into the apartment felt like arriving home. Every detail has been considered and the design is thoughtful and intuitive. I am thoroughly looking forward to sharing this prefect place with my loved ones,” said the buyer who chooses to remain anonymous.

The highly intelligent design that takes full advantage of its beachfront location, offering a truly seamless indoor-outdoor living experience, while still ensuring privacy. The mansion-style apartments at The Alef Residences are complete with the latest smart home technologies and feature a range of luxurious finishes from leading international brands – all synonymous with mastery and excellence in craftsmanship.

“In addition to the sought-after location, the highest quality finishes and state of the art home automation, The Alef Residences offers owners services that cater for any and every need. It is this combination of elements that creates a unique living experience that we can proudly say is contributing to the great demand for these properties, with demand coming from buyers located both regionally and abroad.” commented Grant Ruddiman, ASI Chief Hospitality Officer. 

Interest from international buyers in Dubai’s real estate sector remains strong. According to the Dubai Land Department (DLD) database, Dubai's real estate market attracted investors from 217 countries between January 2016 and the end of June 2017. Investor confidence also remains high with 68 projects registered during H1 2017, representing a total value of AED 21 billion.

“The Alef Residences sales reflect the continued momentum and confidence in Dubai as a leading destination for luxury properties as well as a consistent demand for niche lifestyle destinations that offer very private and spacious apartment living, complimented by a five-star round-the-clock service offering added Alexander von Sayn-Wittgenstein, Luxury Sales Director LUXHABITAT.

Fully funded upfront, The Alef Residences has seen all structural work completed, including more than 70 per cent of the façade work, with fit out work progressing steadily and to schedule.

This visionary AED2bn ($545m) destination made up of The Alef Residences and W Dubai-The Palm, aims to deliver unparalleled standards in luxury and service.  Owners at the Alef Residences will have access to all the W hotel’s services and leisure facilities along with The Alef Residences’ fully serviced Club 104. The club includes a fully equipped gym, fitness center, multi-purpose yoga room, private changing rooms and bathrooms, and four private spa rooms. The destination also includes a family restaurant, 16-seat cinema, his and her lounges, a running track, a tennis court and a 250 m-long beachfront.

For further information, please contact:
Tameron Carneson
FleishmanHillard                                           
E-mail: tameron.carneson@fleishman.com

© Press Release 2017