Hot property: Dubai’s new launched villa projects claim sell-outs
The weak rate of growth being observed in property prices, and a drop in number of real estate transactions have not deterred Dubai developers from launching new projects. In the last few weeks, two developers have announced projects in Dubailand – once touted as the leisure and entertainment district for the emirate. And these developers, in fact, have even claimed to have sold their units, put for sale, on the launch date itself, Emirates 24|7 reproted. Damac Properties said the first release of houses in Akoya Oxygen, a master development in Dubailand, have been sold out and that, too, in record time. The master development spreads over 55 million square feet in Dubailand and will have the “greenest” living spaces in the emirate with parklands, green open spaces and private gardens, according to the developer. The project will include an 18-hole championship golf course designed by an international golfing star due to be announced soon.