Sales of residential investment property in a Dubai tower have been “stellar” according to the developer, with interest still remaining high.
‘The Buildings’, a mixed use project which is part of the Dubai International Finance Centre Scheme, has completely sold out.
Buyers who have then sold property on have seen high returns, according to Daman Investments, which is behind the project.
Shehab Gargash, chief executive officer of Daman, said:
“We are very pleased with the project in every aspect. Sales were stellar, interest remains high and we have witnessed a steady demand for sales from the secondary market.
“Our investors have all seen an exceptional appreciation in the value of their initial purchase price.”
The exceptional demand for the project will be welcome news for the Dubai property market, which continues to flourish despite global financial uncertainty.
Asteco, sales agents for the project, revealed final sales of luxury units in the development would begin in the new year.
Daman started life in 1998 and is a private joint stock company based in Dubai and is well-known throughout the Gulf and in Iraq.
‘The Buildings’ project is being constructed on a 220,000 sq ft plot of Dubai land which was bought following a tender process in 2004.
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