Dubai-based luxury property developer Seven Tides has completely sold out its Dukes Dubai Sky Collection apartments, just a month after the luxury properties were launched.

The mix of 60 studio and one-bedroom properties is the final phase of hotel apartments at the Palm Jumeirah development, located on the 16th and 17th floors of the building, with penthouse views overlooking the Arabian Gulf and the stunning Dubai Marina skyline.

The attractive payment plan, which comes with a developer-backed 10 per cent guaranteed ROI over five years, saw investors pay 10 per cent on reservation and 20 per cent upon signing the sales and purchase agreement (around 30 days after reservation). A further 25 per cent will be paid in August, another 25 per cent in October and a final 20 per cent payment on completion.

Investors were made up of a mix of nationalities including Indians, Egyptians Syrians, Chinese, South Africans, Brits and Emiratis.

Abdulla bin Sulayem, CEO of Seven Tides, said: “In what is a very challenging market environment we witnessed huge interest in our Dukes Dubai Sky Collection properties. The project was extremely well received by investors who were attracted by its prominent location on the trunk of Palm Jumeirah, the quality build, striking interiors and Dukes position, offering a quintessentially ‘Best of British’ lifestyle experience.”

Dukes Dubai Sky Collection studio apartment sizes range from 309-sq-ft to 459-sq-ft, with prices starting from Dh996,000 ($271,103)to Dh1.4 million ($381,068); and one-bedroom apartments, from 576-sq-ft to 791-sq-ft, sold from Dh1.8 million ($489,945) to Dh2.5 million ($680,479).

Striking features include generously sized living rooms, while the luxury designer furnishings are complemented by thick piled carpets and the latest in technology, including state-of-the-art televisions. Bedrooms feature comfortable beds, walk-in wardrobes and en-suite bathrooms, while kitchens are fully equipped with top-of-the-range appliances.

Owners will have access to all the services, facilities and amenities at the Dukes Dubai hotel, including the Dukes Bar, the Cigar and Coffee Lounge, Afternoon Tea Lounge, West 14th Steakhouse and the signature Great British Restaurant (GBR). There is also the stunning indoor swimming pool and gymnasium, outdoor infinity pool and private beach access.

The properties will be professionally handled by the Dukes Management Team, while investors will have access to their apartment for seven days per year.

Bin Sulayem said: “This project offered a developer-backed 10 per cent guaranteed ROI for five years, allowing owners complete peace of mind knowing that their investment is in the professional hands of the Dukes Management Team.” - TradeArabia News Service