UK-headquartered property investment consultancy, Select Property, has announced that it has sold 90% of a 500 million AED project called No.9 on Dubai Marina in just four weeks for UAE developer Select Group.
There are more than 200 one, two and three-bedroom apartments as well as several penthouses in the development which have been sold off-plan to investors around the world who are eager to reserve a property on the Marina where space is at a premium. The majority of these sales have been handled by the group's Dubai sales office, located at the central Marina Plaza building.
The sales at No.9 for Select Property comes after 10 successful years of branding, marketing and selling residential property in the UAE and firmly establishes the company as a front-runner in the Middle Eastern real estate market. The project brings its total number of sales in the region up to more than 5,500 in iconic developments including The Torch, The Point, Yacht Bay, Botanica, Bay Central Towers, West Avenue and The Royal Oceanic.
Select Property's central role in the success of these prominent schemes has led to it becoming renowned as Europe's largest seller of UAE property. It has also embarked on a joint venture with Select Group called Pacific in Ras al-Khaimah, which is currently 75% sold-out.
The company's strategy has been to specialise in property on Dubai Marina but it is now diversifying into the highly sought-after Business Bay and Downtown areas where demand is mounting due to the growing infrastructure and increasing population. To this end, it is actively in talks with major developers in the region with the view to form long-term sales partnerships.
Adam Price, Managing Director of Select Property Middle East, has attributed the company's success to its comprehensive understanding of the region and culture as well as its extensive global investor network which it has built over many years.
He commented: "Our knowledge of the property market in Dubai is second-to-none as we have been working in the area since it first started emerging as a real estate destination. To ensure that we offer our clients the best possible investment opportunities, we only partner with the developers which are building the highest quality property.
"This has allowed us to develop strong relationships with our clients over the past 10 years, many of whom have bought several properties from us worldwide and continue to rely on us for guidance on how best to expand their portfolios.
"The response we received for the apartments at No.9 has been overwhelming and it feels as though the sector is starting to realise its potential again, albeit in a much more sustainable manner than pre-2008.
"Dubai Marina has historically been a property 'hotspot' in the Emirate which is why we strategically decided to specialise in that area and we have enjoyed enormous success with the nine towers we have brought to market for Select Group. However, there are limited sites available which means we have started identifying new developments in areas which are due to experience the same demand, such as Business Bay and Downtown Dubai.
"It marks a new chapter for the company and we're eager to start exploring the new opportunities that are available in the Emirate."
Select Property has had a sales hub in Dubai since 2005 and it has recently relocated to new, larger offices signifying its continuing prosperity in the Emirate. It also has offices in Manchester, London and Singapore, with 85 employees worldwide.
The company has been primarily working with specialist developer Select Group since 2004, for which it has branded, marketed and sold all the individual properties. Alongside this, it has also launched a UK development business called Vita Ventures and has an established re-sales division.
For press information or images, contact Lauren Sibley (lauren.sibley@selectproperty.com / 0161 322 2243) or Helen White (helen.white@selectproperty.com / 0161 322 2243 or 07884972796).
About Select Property
Select Property is the UK's largest seller of overseas investment property, having sold over 9,000 properties to residents of more than 100 countries over the past 10 years.
Since 2004, Select Property has become Europe's leading Dubai Marina property expert, as well as selling properties in Turkey, Egypt, Spain, and the United Kingdom.
To ensure it sells the highest quality property on the market it has exclusively partnered with several prominent developers worldwide including Select Group in the UAE and Vita Ventures in the UK.
Its sales model is to sell off-plan property in global 'hotspots', ensuring that clients are primed to profit from both rental income and capital appreciation.
© Press Release 2014
