Dubai-based developer Seven Tides is preparing to launch phase two of its deluxe Anantara Residences development after selling 80% (77 units) of the luxury apartments in its first phase and as robust demand pushes apartment sales prices on The Palm up by an average of 43% during 2013.
Apartment sales on Palm Jumeirah increased by 21% in the final quarter of 2013, rising from an average of AED 1,650 to AED 2,000 per square foot and 43%, once compared with prices a year earlier in Q4 2013, according the latest Q4 report from Dubai-based property management company Asteco.
“We will launch the next phase of our Anantara Residences project, having secured sales for 80% of our existing stock in phase 1,” said Seven Tides’ CEO, Abdulla Bin Sulayem.
“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,” added Bin Sulayem.
The Anantara Residences second phase will be launched at the ‘Next Move’ consumer real estate event that is taking place at the Madinat Jumeirah on 20-22 February. Specifically, Seven Tides will be releasing two floors (3&7) consisting of 64 units. Senior executives will be on-hand to offer additional information and advice and of course arrange site visits.
“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,” said Bin Sulayem.
The collection of 442 luxury apartments and 14 penthouses, which range in size from 1,158 up to 9,500 square feet, are fronted by a private stretch of white sand beach, with all residences enjoying spectacular panoramic views of the Arabian Gulf, Atlantis hotel, Burj Al Arab and the Dubai Marina skyline.
Prices for the Anantara Residences units start from AED 2.6 million with buyers also able to enjoy exclusive access to the adjacent 293-room five-star Anantara Dubai Palm Jumeirah, Resort & Spa, with a gym, 107,600-square feet of temperature controlled lagoon pools, six dining and entertainment venues and Anantara 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.
There are also a limited number of three and four-bedroom penthouses, each with sunken swimming pools, private terraces and balconies offering up to an additional 3,300 square feet of space for relaxation and entertaining. Potential penthouse owners also have the option of fully customising their interiors.
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