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World Trade Centre Residence offers investors double returns

United Arab Emirates: Sunday, December 18 - 2005 @ 13:54

The opulent show apartment provides a glimpse of what life will be like at one of Downtown Dubai’s most exclusive addresses.

“The size and quality of the apartment reflects the prestige of the World Trade Centre Residence development,” said Elaine Jones, CEO, Asteco, the exclusive sales agent for the World Trade Centre Residence. “The venue will be a great service to prospective buyers, and it will bring the residence to life for the many people who have already bought.”

Jones said: “Our research shows that branded ‘managed’ apartments in prime locations like the site of the World Trade Centre Residence can generate a return on investment that is twice the value of conventional residential apartments. Branded ‘managed’ apartments can produce a gross return of 16-18 per cent on monthly rentals compared to 7-9 per cent for typical residential apartments on Sheikh Zayed Road.”

Jones added: “Less than one per cent of the total hospitality supply in the region is represented by ‘managed’ apartments, which makes the World Trade Centre Residence an exceptional proposition.”

The World Trade Centre Residence duplex show apartment will contain an example of a bathroom, kitchen, bedroom and living room inside the 40-storey, Hazel Wong-inspired landmark. The World Trade Centre Residence promises a combination of the ultimate home environment with levels of five-star luxury.

“We have gone to great lengths to make the show apartment as representative of the real thing as possible, from the floor tiles to the bathroom fittings,” said James Knowles, Director of Sales and Leasing, Asteco.

The show apartment also features a variety of the technical wizardry and creature comforts available within the real World Trade Centre Residence apartments: electric blinds, separate audio and temperature controls for different rooms, advanced mood lighting. Sleek in design, the kitchen has been fitted with the very latest home appliances.

The show apartment also has an example of the floor-to-ceiling, double height windows that measure 5.5 metres and are a key selling point of the World Trade Centre Residence, allowing stunning views of the surrounding Downtown Dubai area.

Knowles said:

“The World Trade Centre Residence is a class apart from other city centre upscale projects. It offers 40 different apartment types with extremely generous floor areas, something few exclusive apartment buildings around the world can match.”

Due for completion in December 2007, the 40-storey World Trade Centre Residence will house 377 exclusive apartments. Most of the apartments have a duplex configuration with a gallery, and have between two to four bedrooms.
The apartments are available on 99-year, renewable lease contracts.

Every World Trade Centre Residence homeowner will enjoy cable TV outlets in all rooms, separate temperature zones in each bedroom, a private hot water system, AV intercom connections to the concierge desk, CCTV security monitoring, covered parking and high speed elevator access.

Duncan Pendlebury, President of Jung Brannen, lead design consultants for the WTCR project, said: “The World Trade Centre Residence’s special quality is its refinement and elegant understatement. This contrasts perfectly with many of the more iconic building projects receiving heavy publicity in Dubai right now.”

Pendlebury added: “This is a development that will stand the test of time and endure ever-changing tastes in fashion. The WTCR is not meant to fit a certain style or imitate other architectural traditions; it is simply contemporary, using the latest advances in design and technology to ensure perfect living environments that will remain quietly elegant throughout their 99-year lease.”

A landscaped rooftop and terrace, fully equipped gym and health club, and temperature-controlled pool and poolside café are other winning features. The rooftop will be home to the World Trade Centre Residence Club, an informal retreat and meeting place strictly for residents and guests.

“Dubai-based luxury hospitality group Jumeirah will manage the exclusive apartments and shared facilities of the World Trade Centre Residence. Besides offering residents the last word in five star hospitality, the tie-up will allow World Trade Centre Residence investors to lease out units as luxury hotel apartments on a short-term basis, generating significantly higher yields than conventional leasing or sub-letting,” Knowles added.

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Sunday, December 18- 2005 @ 13:54 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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