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Property investment group buys last Dubai Marina tower

view from apt; the tan buildings are jemeriah beach residences (JBR)
Creative Commons License photo credit: bettyx1138

One of the last remaining plots on Dubai Marina has been snapped up by local firm Select Group and UK developer Select Property.

The partnership has already sold out six off-plan developments at the UAE marina and is spending AED 678 million on the latest tower.

A ‘luxury Manhattan-style’ complex, the West Avenue development will feature one and two bedroom apartments, along with two bedroom suites and luxury penthouses.

Dubai Marina is the largest man-made marina in the world and prices in the area have soared with the average value per square foot rising from around AED 800 in 2005 to over AED 2,000 this year.

Select Group chief executive Rahail Aslam said:

Dubai Marina is undeniably one of the most desirable locations for residential property in the Emirate.

“It is perfect for investors looking to benefit from the ongoing Dubai property boom.”

Prices for a studio in West Avenue start at a pre-launch price of AED 1.77 million and are available with a 15 year non -status payment plan, the partnership said.

Select Property specialises in off-plan overseas investment property and only moved into development in March this year.

Select Group currently has £500million worth of assets under development and has already worked on on four off-plan developments including the Marina’s centrepiece Bay Central, the iconic ‘super tower’ The Torch, The Point, and Botanica.

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