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Dubai-based luxury property developer, Seven Tides, has unveiled plans to bring the upscale London hotel Dukes to Dubai, marking the brand’s first foray into the international market. The mixed-use development, which will feature both high-end residences and hotel rooms, is to be created within the Palm Jumeirah’s Oceana community, already owned by Seven Tides.
By bringing the brand to the Middle East, the firm is hoping to tap into the existing popularity of Dukes’ London flagship in the GCC market, as well as target new investors who want to see an immediate return on their purchase, with Seven Tides guaranteeing an ROI of 10 per cent per annum for the first five years of ownership.
“With this launch we are bringing quintessential British charm and style to the UAE and blending it with cosmopolitan luxury to create a unique residence and hotel situated in the heart of Dubai’s most desirable island community, Palm Jumeirah,” explains Abdulla Bin Sulayem, CEO at Seven Tides. Dukes Oceana, Dubai Residences, which launched for sales on April 14, will feature 227 studio and one-bedroom apartments, targeted at the regional and international investment community. Prices start at Dh760,000 for a 286-sqft studio, reaching up to Dh2.5million for a one-bedroom apartment, with floor spaces of up to 834 sq ft.
“International high-networth individuals [HNWIs] consider lifestyle appeal as a major criteria when looking to grow their investment portfolio and Palm Jumeirah fits the bill in every respect,” says Declan McNaughton, Director of Sales and Marketing, Real Estate, at Seven Tides.
“This is further endorsed by Dubai’s long-standing reputation as a globally connected gateway and world class commercial hub offering a high standard of living.”
“Dubai continues to offer value for money even at the top end of the investment spectrum, especially when it comes to apartment square footage compared to other major metropolises such as London and New York. “Investors will also be able to enjoy complete peace of mind knowing that their investment is being managed by the Dukes operations team around the clock, and that it’s in professional hands from day one.”
Sold as fully furnished freehold properties, the apartments and studios will feature luxury designer furnishings, expansive walk-in wardrobes and modern en-suite bathroom facilities, as well as smart home technologies and high-tech custom kitchens designed to appeal to HNWIs.
In addition, fresh from its work on the Palm’s Anantara Residences, which allows investors to draw on the appeal of the hotel’s facilities for a guaranteed income, the Seven Tides team believes the Dukes brand will provide similar benefits for those looking for immediate returns from their purchase.
Properties within the residences will not only be granted full access to the hotel’s business and leisure facilities, but will also be fully managed by the Dukes team, allowing Seven Tides to offer the guaranteed rental income for five years on both studio and one-bedroom apartments.
Featuring a similar style to Dukes London flagship, an award-winning five-star boutique hotel popular with international leisure and business travellers, the 273-room hotel will boast five-star facilities for the use of both the hotel and residences.
Leisure options will include a private beach and outdoor infinity pool, as well as an indoor pool and a state-of-the-art gym. The development’s restaurant offerings will range from a relaxed British fish and chip shop on the promenade overlooking Dubai Marina and JBR, to a high-end top floor Asian restaurant enjoying views over The Palm Jumeirah.
Source: Jennifer Gibson, Special to Property Weekly