Investors snap up Seven Tides’ luxury Palm Jumeirah residences

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  • DUKES Dubai Sky Collection apartments sold out
  • Buyers take advantage of developer-backed 10% guaranteed ROI over five years
  • Properties will come under wing of DUKES Management Team

Dubai-based luxury property developer Seven Tides has completely sold out its DUKES Dubai Sky Collection apartments, just a month after the luxury properties were launched.

The mix of 60 studio and one bedroom properties is the final phase of hotel apartments at the Palm Jumeirah development, located on the 16th and 17th floors of the building, with penthouse views overlooking the Arabian Gulf and the stunning Dubai Marina skyline.

The attractive payment plan, which comes with a developer-backed 10% guaranteed ROI over five years, saw investors pay 10% on reservation and 20% upon signing the Sales & Purchase Agreement (around 30 days after reservation). A further 25% will be paid in August, another 25% in October and a final 20% payment on completion.

Investors were made up of a mix of nationalities including Indians, Egyptians Syrians, Chinese, South Africans, Brits and Emiratis.

Abdulla bin Sulayem, CEO of Seven Tides, said: “In what is a very challenging market environment we witnessed huge interest in our DUKES Dubai Sky Collection properties. The project was extremely well received by investors who were attracted by its prominent location on the trunk of Palm Jumeirah, the quality build, striking interiors and DUKES’ position, offering a quintessentially ‘Best of British’ lifestyle experience.”

DUKES Dubai Sky Collection studio apartment sizes range from 309sqft to 459sqft, with prices starting from AED 996,000 to AED 1.4 million; and 1 bedroom apartments, from 576sqft to 791sqft, sold from AED 1.8 million to AED 2.5 million.

Striking features include generously sized living rooms, while the luxury designer furnishings are complemented by thick piled carpets and the latest in technology, including state-of-the-art televisions. Bedrooms feature comfortable beds, walk-in wardrobes and en-suite bathrooms, while kitchens are fully equipped with top-of-the-range appliances.

Owners will have access to all the services, facilities and amenities at the DUKES Dubai hotel, including the DUKES Bar, the Cigar and Coffee Lounge, Afternoon Tea Lounge, West 14th Steakhouse and the signature Great British Restaurant (GBR). There is also the stunning indoor swimming pool and gymnasium, outdoor infinity pool and private beach access.

The properties will be professionally handled by the DUKES Management Team, while investors will have access to their apartment for seven days per year.

Bin Sulayem said: “This project offered a developer-backed 10% guaranteed ROI for five years, allowing owners complete peace of mind knowing that their investment is in the professional hands of the DUKES Management Team.”

About Seven Tides:

Based in Dubai, the United Arab Emirates, privately owned Seven Tides is an internationally oriented holding company established in 2004. Currently focusing on hospitality and real estate sectors, Seven Tides thinks progressively, works creatively, partners strategically and acts quickly. The result is a current portfolio of offerings from landmark hospitality acquisitions and commercial buildings to residential towers and multi-use complexes in the gateway cities of London and Dubai.

About DUKES Dubai:

DUKES Dubai, owned by Seven Tides International, brings 279 guestrooms and 287 hotel apartments to the hotel scene, together with world-class leisure, conference and entertainment facilities including a stunning private beach, indoor pool, outdoor infinity pool and state-of-the-art gym, along with five food and beverage outlets.