UAE-based Vincitore Real Estate Development, the developer of Vincitore Palacio, a branded residential project in Dubai, said it aims to bridge the gap between the price and quality of properties in the GCC by launching projects that are the new standard and niche to the market of affordable luxury.

A 200,000-sq-ft development located at Arjan in Dubailand, Vincitore Palacio is being built at a cost of Dh135 million ($37 million) with unit prices starting from Dh475,000 ($129,285).

Vincitore Palacio boasts of 175 European-styled units featuring spacious studios and one- and two-bed apartments, each with a private sun deck.

Showcasing Vincitore Palacio as an affordable luxury project at the Cityscape, the developer also introduced a special payment plan for visitors that offers assured rental income along with a 50 per cent finance option.

Affordable luxury projects are an important stage of necessary evolution in the Dubai real estate market, stated Vijay Doshi, the founder and managing director, Vincitore Real Estate Development.

"Projects such as Vincitore Palacio provide a comparable luxury experience by leveraging the benefits of an up-and-coming location as well as the quality of high-grade brands that match their more glamorous counterparts in style and efficiency without the staggering costs involved," he pointed out.

Commenting on the lack of luxury yet cost-effective properties in Dubai and how Vincitore Real Estate Development is bridging this gap in the market with its commercial, residential and hospitality projects, Doshi said: "Our inspiration was to deliver bespoke branded residences that would no longer be the exclusive domain of the super-rich."

"Though premium in every aspect, the homes are a dream that is very much within the reach of the aspiring home owner," he noted.

Vincitore Palacio features top-class amenities such as custom-designed elevators, a 60-ft temperature-controlled pool, a 3,000-sq-ft sunlit gymnasium, a landscaped garden, 24/7 security and a concierge.

According to Doshi, the project has garnered high-level investor interest with 90 per cent of the first phase having been sold out within 60 days of its launch.

"We look forward to meeting discerning buyers across the world, who are increasingly aware of the benefits that owning property in Dubai can offer, not only in terms of returns on investment and its tax-free offering, but also for quality of life,” he added.-TradeArabia News Service