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Over 85% of the units in the tower sold which reflects the appetite for luxury developments in Dubai.
Deyaar Development, one of Dubai’s leading property developers and real estate service providers, announced USD 245 million sales in its skyscraper project Regalia in Business Bay that was launched early July this year.
Key drivers to the high sales rates achieved in a relatively short period were: the strategic location of the project, the smart home features and high-end amenities as well as the exclusive launch proposition that includes three-year free service fees and full waiver on the property registration fees.
Commenting on this announcement, Nasser Amer, Vice President Sales and Customer Service said, 'the project witnessed an overwhelming response from domestic as well as international investors seeking quality high-end developments reaffirming the level of trust and confidence our investors have in the quality of our developments and products. More than 85% of the units were sold which is a clear testimony to the appetite the market has for luxury developments.'
The company has recently appointed the main contractor for the project and had the groundbreaking of the tower that is scheduled for completion in 2024. Regalia will be Deyaar's tallest residential project and will feature high-end studios, one, two, and three-bedroom apartments as well as duplexes and luxury penthouses.
Apartments in the 70-storey premium residential building will be equipped with smart home system. It also features a wide range of recreational and wellness amenities, including an Olympic-size infinity pool, a state-of-the-art family gymnasium and an outdoor cinema. In addition to that, the project also provides social amenities for the residents and their families, such as an indoor and outdoor children’s play areas and a Business Centre.
After the successful launch of Regalia, the company plans further launches of new projects, which will be announced in due course.
Deyaar Development was established in 2002, and since then has become one of the leading real-estate developers and real-estate services companies in Dubai. Deyaar's extensive portfolio includes a whole range of commercial, residential and hospitality properties, all offering the highest levels of service and quality.
