Luxury residential and hospitality property developer Seven Tides has announced that its competitive pricing strategy, has paid off with occupancy in itsdevelopments in Discovery Gardens (DG) and The Residences at Ibn Battuta Gate (RIBG) running at over 97%.

 

Seven Tides first introduced its ‘free rent’ promotion in November 2020, as the Dubai economy was steadily recovering in the wake of the pandemic. It was reintroduced in Q1 this year and that decision too has paid off handsomely, said the statement from Seven Tides. 

 

At the end of July this year, Seven Tides’ developments in DG and RIBG recorded 97% and 97.2% occupancy respectively.

 

Over the 12 months to the end of July, 655 new leases were approved and 521 got renewed, while 280 tenants vacated their apartments. It was a similar picture at RIBG, with 74 new tenants, 47 tenants renewed and 28 vacated.

 

In Discovery Gardens, new tenants are now able to secure a one-bedroom apartment with balcony for just AED52,500 spread over 13 months, inclusive of chiller fees.

 

Seven Tides owns ten buildings within the community, with a total inventory of 1,528 apartments in a contemporary residential setting, offering a cosmopolitan style of living. It is ideally located, with its own Metro station and easy access to JLT and Dubai Marina. 

 

Looking at the lifestyle choices, Discovery Gardens features a host of swimming pools, tennis courts, children’s play areas, basketball and volleyball courts, as well as a mosque, and trails for both cycling and jogging.

 

Tenants can also take advantage of food and beverage discounts at the adjacent five-star Oaks Ibn Battuta Gate Dubai Hotel. 

 

In addition, the Ibn Battuta Mall, the largest themed mall in the world which has close to 400 stores as well as a multi-screen cinema and a comprehensive food court, is only a short walk away, as is the Metro station, it added. 

 

CEO Abdulla bin Sulayem said: "These are affordable apartments, competitively priced, in a convenient location, with outstanding facilities, that represent exceptional value for our tenants."

 

New tenants looking to rent apartments in The Residences at Ibn Battuta Gate, can now lease a 702-861 sq ft one-bedroom unit with balcony, starting from AED64,000 or alternatively a 1027-1274 sq ft two-bedroom apartment with balcony, starting from AED84,000. Both prices are spread over 13 months and inclusive of utilities, chiller fees, Wi-Fi and Cable TV, he stated.

 

According to him, demand has been robust and will continue as the Dubai economy grows.

 

"Tenants in both developments are staying for an average of three years, which helps to develop a sense of community, enhancing their living experience," added bin Sulayem.