Luxury real estate developer Damac Properties has launched 'Aykon City', a massive six-tower luxury project on the Sheikh Zayed Road overlooking the Dubai Canal.

The major new project, destined to become another icon of Dubai's real estate landscape, is being developed in collaboration with Meraas Holding, said a statement from Damac.

'Aykon City' will boast Dubai's first all-suites, 80-storey Aykon Hotel and Residences, a 63-storey Damac Maison serviced hotel residences, a 60-storey apartment tower, a 65-storey office tower and two 30-floor ultra-luxury residential towers featuring state-of-the-art car lifts to each unit and direct views over Dubai Canal and Safa Park.

Limited release of the serviced residences go on immediate sale with further releases in due course, it stated.

'Aykon City' is a 4-million-sq-ft development, located on the eastern and western sides of Sheikh Zayed Road at the Safa Park intersection and in close proximity to the Dubai Canal.

It will join other iconic developments in the golden quadrant of the business district of the city such as City Walk, the Burj Khalifa, Emirates Towers and the Dubai International Financial Centre district (DIFC).

This project will also feature the 'Aykon Dare', an addition to Dubai's tourist attractions; an adrenaline experience on the 80th floor of the hotel where guests get to walk around the outside of the tower's roof.

For the less adventurous, 'Aykon City' will also consist of the 'Aykon Plaza' with swimming pools, spa, beach club, cafés, restaurants, yoga and Tai-chi areas, and private members club.

The project sales value is Dh7.4 billion ($2.02 billion) and construction is due to commence before this summer with a completion date of 2021, said the statement.

On the launch, chairman Hussain Sajwani said: "Damac is an established, chosen and trusted real estate developer in the region, selected for the largest and most influential projects, and this area of our city is one of the most important developments in Dubai's expansion, opening up access to many kilometres of the Dubai Canal."

"Aykon City is a testament to our solid commitment and belief in Dubai's strong economy and especially in the future of the real estate sector," he added.-TradeArabia News Service