Damac kicks off villa sales in Akoya project
Dubai, June 12, 2013
Damac Properties, a leading developer of luxury real estate in the Middle East, has launched the first phase of sales for luxury villas within the Akoya by Damac, project in Dubai.
The project is a 28 million sq ft master development off Umm Suqeim Road.
Akoya by Damac will be the most luxurious golf community in Asia, with premium branded mansions providing a luxury living experience within a fully integrated community, a statement said.
In the first phase of sales 205 units are being made available. Prices for these luxury villas will start at Dh2.4 million, the company said.
“This project will prove to be the ideal destination for our elite customers, who are on the lookout for opportunities to experience elegant, modern living in Dubai in an atmosphere of exceptional luxury and excellence,” Ziad El Chaar, managing director, Damac Properties. “Funding is allocated and Rera has signed off on our bank guarantees – we are moving full steam ahead.”
In advance of the launch of sales, Damac Properties has already completed all required formalities, including full payment for the plots in Phase One. An Escrow account has been opened and Rera has received all bank guarantees for infrastructure and construction, it said.
Al Naboodah Contracting Company has already started enabling works on the site.
At the heart of the project is the ‘Trump International Golf Club, Dubai,’ - an 18-hole PGA Championship Golf Course which Damac Properties is developing in collaboration with Trump, a leading global luxury companies in the golf sector and the world’s most recognized brand, developer, owner and manager of world-class properties.
Trump will manage and operate Trump International Golf Club Dubai which will consist of a 30,000 sq ft state-of-the-art clubhouse and luxurious Trump Spa & Wellness Centre.
Akoya by Damac will include a boutique hotel and international schools. In addition, the fully-integrated community will be home to globally-recognised retail brands, leisure and entertainment offerings, a sports complex and will be characterised throughout by beautifully manicured landscaping.
The project, which takes its name from one of the most exclusive pearls in the world, will create a thriving environment aimed at meeting the demand of those living and working in Dubai and the region, as well as those holidaying there.
The new project is the largest in the history of Damac Properties, reflecting the recent significant growth of the real estate sector in Dubai.
El Chaar said: "This is the first time Damac Properties has developed a full-fledged residential complex comprising both villas and mansions, to provide customers with a new level of luxury, that has not been seen before. The project builds effectively on Damac Properties’ long experience of developing luxury apartments throughout the Middle East." – TradeArabia News Service