Luxury real estate developer Damac Properties is expanding its development portfolio in the Middle East with the opening of its new ‘Navitas Hotel & Residences’ in Akoya Oxygen golf course community.

Investors now have the opportunity to own a residential unit in Akoya Oxygen golf course community with prices starting from Dh440,000 ($119,777), payable over four years.

Navitas Hotel & Residences, a project with a total value of Dh850 million ($231.3 million), provides attractive investment opportunities equalling the rental rates for a period of only four years, in the green lifestyle community, which is home to the Tiger Woods designed international golf course, The Dubai Rainforest and the high-end retail and entertainment district, Vista Lux.

One of the towers comprises 312 hotel rooms, which will be managed by Damac Hotels & Resorts. The other four towers will comprise private, residential units, which will look out over the golf course and the full project.

“The five, 14-storey towers are a real opportunity for those looking for investment properties,” said Niall McLoughlin, senior vice president, Damac Properties. “By investing in a hotel room at ‘Navitas Hotel & Residences’, you’ll benefit from Dubai’s flourishing hospitality industry, which will be a gateway to high annual returns.”

“Everything will be taken care of in your luxury hotel room, starting with beautiful interior detailing and exquisite finishing. Each spacious room is lavishly furnished and comes with separate living and dining areas,” said McLoughlin.

He added: “The world-class amenities and our round-the-clock staff members will ensure you enjoy premium service on a par with the world’s finest hotels.”

The towers are set on a common podium and offer their own retail element. Also, all of the units have access to a high-tech gymnasium, tranquil swimming pool and lounge area, as well as retail shops and restaurants on the ground floors.

Akoya Oxygen is a 55 million-sq-ft development in Dubailand, offering a green and lush community to escape the city. The whole ethos of the project is based around a green concept that will be integral to this new community.

Located off the Umm Suqeim Road extension and around 15 minutes from Akoya by Damac, Akoya Oxygen will have an upmarket resort feel. The development will include contemporary residential properties of various sizes surrounding an 18-hole championship golf course, along with an organic produce market, luxury wellness centre, outdoor yoga enclave and retail outlets featuring well-known brands.

At the heart of the project is Vista Lux, the 1 million-sq-ft central entertainment and retail district, which includes a waterway and more than 1.5 km of walkways, creating a key central entertainment and retail district in the heart of the project. The area will provide luxury retail, restaurants and entertainment to support the Akoya Oxygen residents, and will attract visitors from all over with many firsts for the region, including a self-contained experiential Rainforest, a Hydroponic café and restaurant where visitors can select their own produce. – TradeArabia News Service