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Dubai-based developer Seven Tides has launched phase two of its deluxe Anantara Residences development after selling 80 per cent (77 units) of the luxury apartments in its first phase and as robust demand pushes apartment sales prices on the Palm Jumeirah up by an average of 43 per cent last year, according to a statement.
Apartment sales on Palm Jumeirah increased by 21 per cent in the fourth quarter, rising from an average of Dh1,650 to Dh2,000 per sq ft, and 43 per cent compared to the same quarter in 2012, according the latest Q4 report from Dubai-based property management company Asteco.
“The market is exceptionally buoyant at the moment and property on the Palm Jumeirah is highly sought after, so it is a good time to release the second phase of our luxury development,” said Abdulla Bin Sulayem, CEO of Seven Tides.
“The fact that the apartments are already constructed is obviously a distinct advantage for investors who can sign today and be swimming in the lagoons and enjoying the Palm Jumeirah lifestyle tomorrow.”
The collection of 442 luxury apartments and 14 penthouses, which range from 1,158-9,500 sq ft, are fronted by a private stretch of white sand beach, with all residences enjoying panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline.
Prices for the Anantara Residences units start at Dh2.6 million. Buyers can also enjoy access to the adjacent 293-room five-star Anantara Dubai Palm Jumeirah Resort and Spa.
“Another unique aspect of this project, Anantara Residence owners can take advantage of a flexible management option, whereby the five-star deluxe Anantara hotel will actually manage the property on behalf of owners, realising rental income when their apartment is not occupied,” said Bin Sulayem.
Source: Property Weekly