Slowdown in off-plan sales generating increased demand for quality premium units at Seven Tides' developed Palm Jumeirah residences with guaranteed ROI
According to real estate marketing agency Raine & Horne Dubai, the continued decline in off-plan sales in Dubai's real estate market is currently driving renewed interest in newly-built premium properties across the UAE, such as the prestigious Anantara Residences Dubai The Palm, the residential flagship project of Dubai-based luxury hospitality developer Seven Tides.
Sanjay Chimnani, Managing Director, Raine & Horne Dubai, notes that the five-star freehold development also offers international investors a guaranteed annual return with access to the Anantara Hotel Rental Management Scheme.
"The Dubai Land Department has doubled the registration fee to 4%, which has effectively eliminated speculators in the market. So with a potential timeline of up to four years between purchase and property handover, some prospective buyers are concerned as to whether the end product will match the sales brochure in terms of finished build quality and maintenance standards.
"A number of new project announcements have also been made in recent months and with a narrowing in the sales price gap between off-plan units and ready-to-go products, potential investors are looking to put their money into the market with the guarantee of immediate income generation," added Chimnani.
"Heightened market competition requires not only the expertise of a company such as Raine & Horne but has also prompted a need for increased flexibility and creativity when putting together investor packages, and we believe that the Anantara Residences' offer is one of the most comprehensive and attractive in the market today, with a guaranteed ROI," said Abdulla Bin Sulayem, CEO, Seven Tides.
Raine & Horne is currently promoting a selection of fully furnished one-bedroom apartments, plus a number of two-bedroom apartments, priced from AED 2.625 million to AED 3.99 million and ranging in size from 1,158 square feet up to 1,771 square feet.
"Rarely have I seen a project complete on time, with an average delay of at least six to nine months commonplace and for many investors there is limited recourse or compensation. However, with the Anantara Residences, investors can see exactly what they are purchasing and earn immediate returns," said Chimnani.
"With restricted mortgage options for off-plan projects, a number of owners looking to liquidate their current investments and for those for whom a guaranteed ROI is a prerequisite, the Anantara Residences is an extremely attractive proposition thanks to its luxury positioning, unrivalled location and our flexible payment options, which adds an element of security," remarked Abdulla Bin Sulayem, CEO, Seven Tides.
Anantara Residence owners also have complimentary use of the resort's 110,000 square feet temperature controlled lagoon swimming pools, private beach and 4,000 square feet gym; 20% dining discount at six world-class restaurants; and access to the Anantara Spa facilities, tennis courts, meeting rooms, kids and teens clubs.
The collection of available one and two-bedroom apartments comprise of nine different and spaciously designed layouts, complemented by top-of-the-range kitchen appliances and innovative technological features. All apartments feature extended balconies for al fresco entertaining, most offering stunning sea views.
Blending Asian-inspired luxury with contemporary style, the collection of 442 luxury apartments and 14 penthouses in the Anantara Residences Dubai The Palm, is set within a magnificent, landscaped location. Fronted by a private stretch of white sandy beach, the residences have spectacular panoramic views of the Arabian Gulf, Atlantis, The Palm, Burj Al Arab and the Dubai Marina skyline.
About Seven Tides
Based in Dubai, the United Arab Emirates, privately owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.
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© Press Release 2015
