Sweid & Sweid, an leading UAE developer, said it has netted more than Dh100 million ($27.2 million) in sales during the pre-launch phase of the first Banyan Tree Residences property in the Middle East region.

Located on a sprawling 110,000-sq-ft site, 90 per cent of the area has been dedicated to resort-style amenities and lush landscaping - with the remaining 10 per cent for the tower footprint. Due for handover in the third quarter of 2019, the G+31 storey tower will become Dubai’s first urban residential resort.
 
The property’s amenities feature a free-standing residents only Clubhouse including a Banyan Tree Spa (with Banyan Tree Academy trained therapists), a hitech fitness centre with saunas and squash court, an indoor children’s play area, and a poolside cafe.

Outdoors the residents will enjoy a resort pool stretching over 30 m, a children’s pool and play areas, and an expansive lawn and flower garden. Operations of all the facilities will be overseen by a director of residences, specifically appointed by the Banyan Tree Group.  

On the solid response, Maher Sweid, the managing partner, said: "The Banyan Tree Residences promises to be one of the most prestigious addresses in Dubai. Having all the leisure facilities and amenities in a setting that provides residents with rarely-found abundant green space, we are confident that tremendous value will be created for buyers and investors for the years to come."

Prices start from Dh1.49 million for a one-bedroom, Dh2.3 million for a two-bedroom, and Dh3.9 million for a three-bedroom unit. With just a 5 per cent reservation fee the residences are being marketed on a 30:70 payment plan with banks offering a 20+ year mortgage on the 70 per cent final payment.  

“Our design, construction and procurement track record stemming from our heritage and experience as industry leading fit-out contractors has joined with the Banyan Tree design team to ensure no stone has been left unturned in achieving the highest standards,” noted Sweid.

The stand-alone tower’s 244 residences are located at the intersection of DMCC, Emirates Hills, Emirates Golf Course, and the Montgomerie Golf Course.

According to him, there is a lot of demand for larger units – especially the duplex apartments, which offer private gardens and double-storey living rooms, a unique aspect of the project.

"We have purposefully incorporated several differentiating design factors in every apartment to ensure we offer something unique to our competitors. Our quality finishes and exceptional residents facilities under a globally recognized brand creates a strong value proposition which has seen Banyan Tree Residences bucking current market trends and proving to be a major success with buyers,” added Sweid.

The development includes over 10,000 plants and trees, creating an urban oasis and living experience more commonly found in luxury hotels and resorts. Interior finishes include Grohe fixtures and Villeroy and Boch sanitary ware, said the developer.

"The custom Italian-made kitchens and wardrobes feature quartz and Zebrano wood detailing with Siemens and Smeg stainless steel appliances," he added.-TradeArabia News Service