UK-headquartered property investment consultancy Select Property has announced that it has sold 90 per cent of a Dh500 million ($136 million) 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.

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 the total number of its 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 75pc 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 forming long-term sales partnerships, the company said.

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." - TradeArabia News Service