By Nikki De Guzman:
The super-prime The Address Residence Sky View project in Dubai by UAE-based developer Emaar Properties’ has sold all of its units according to investors who bought there.
“We bought properties in the project for Dh2,600 (S$880.48) psf,” said one investor who declined to be named.
“We were told all the units released in the project had been sold out.”
The project’s online registration closed after less than an hour due to “phenomenal” interest from investors for its serviced apartments and residences.
Media reports revealed that another development – The Address Residence Fountain Views by the same developer – also sold out for an average psf price of Dh2,500 (S$846.73) recently.
With its target completion set for 2016, The Address Residence Sky View is a twin-tower complex that features a 50-strorey hotel, residence and serviced apartment. Tower 1 will comprise 326 serviced apartments while Tower 2 will be a 180-room hotel with an observation deck.
Sky View tower (Tower 1), designed by Skidmore, Owings & Merrill – architects behind the famous Burj Khalifa, will offer 532 fully-furnished serviced apartments with floor-to-ceiling windows. It will also enjoy direct connectivity to The Dubai Mall and Dubai Metro through an air-conditioned travelator.
Spanning the two towers will be a "Sky Bridge" featuring a ballroom, signature restaurant, infinity pool and amenity deck offering stunning views of downtown Dubai.
Emaar noted that the sale of units at Tower 1 began on 2 March, while its handover will take place in December 2016. The launch date for Tower 2 is yet to be announced.
Image: Artist’s impression of The Address Residence Sky View
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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