Dubai’s luxury real estate continues to attract investors
Demand for luxury properties in Dubai is increasing despite the continued economic uncertainty caused by the coronavirus pandemic, according to George Azar, CEO of Luxhabitat Sotheby’s.
Azar was speaking after it was announced that Dubai-based Luxhabitat Sotheby’s International Realty had completed the complete project sell-out of the ultra-luxury Four Seasons Private Residences, within three months of its launch.
He said the properties have all been snapped up “by the veritable who’s who of international society, from royalty to celebrities”.
“The demand for this type of VIP branded residence, with five-star service and access to hotel amenities, is rapidly increasing. Over the last year we have seen a significant increase in international investors looking to secure luxury property roots in Dubai,” he said. “These clients want that higher level of experience, from lifestyle to service, design to convenience and they can find it in Dubai.”
Located on the banks of the Dubai Canal, the high-end residential development is comprised of only 28 units in total. It includes two, three and four-bed apartments and 4 bed villas, with the two beds starting price set at $3 million.
Luxhabitat Sotheby’s are also currently working on Residence 22 in Business Bay and Jumeirah Luxury in Jumeirah Golf Estates.
Residence 22 is a fully managed building comprising of 19 full floor apartments overlooking the canal with a starting price of $4 million. While Jumeirah Luxury, the units of which start from $1 million, is a series of stylish, contemporary townhouses with three, four or five bedrooms.
Azar added: “These exclusive, high-end developments are exactly the type of remarkable complexes that will be shaping the landscape of Dubai luxury property for years to come.