Russia's Forum eyes big role in UAE property market
DUBAI, February 16, 2017
The Forum Group, a leading Russian property developer based in Dubai, aims to turn a major player in the UAE property market with the launch of its one-of-a-kind ultra luxury project on the Palm Jumeirah.
XXII Carat offers beachfront resort-style living on the Palm Jumeriah next to One and Only the Palm. The private beachfront gated community comprises uniquely designed seven-bedroom villas ranging from 8,000 to 13,000 sq ft with dramatic views of the Dubai city skyline.
Situated near the end of the Palm Jumeirah West Crescent, residents of the Mediterranean architectural inspired XXII Carat villas will get to enjoy a luxury hotel-inspired lifestyle offering spacious accommodation with convenience of 24-hour, 7-day a week concierge and exclusive access to private beachfronts spanning 720 ft. with 360° views of Dubai City and the Arabian Gulf.
Driven by the robust demand for luxury homes in the city, the company is leading the trend for ultra luxury European-style villas.
The Forum launched the large-scale residential project last year and is targeting wealthy buyers from the GCC as well as Russia, India and Europe.
Comprising 22 ultra-luxury villas of different styles and architecture – Emerald, Ruby and Sapphire – the developers have already sold around 30 per cent of the units with construction due to be completed in late 2017, said a statement from Forum Group.
"Demand for luxury properties is on the rise far exceeding supply in the higher price spectrums of the market and there is always a market for high-end one-of-a-kind properties," said Anton Yachmenev, the managing director of the Forum Group.
"We were keen to capitalise on this trend by offering developments that take luxury living to the next level. Buyers are on the lookout for modern, vanguard and expertly appointed villas and we want to give them what they want," he noted.
"We have a simple mission, which is driven by the belief that luxury is about more than just the address. We specialise in exquisite developments using the most stringent European building standards and finishes to provide each resident with privacy and unique views of beach and skyline. We have also scoured the globe for the best of the best for our interiors," he added.-TradeArabia News Service