Developers In Dubai Speed Up Luxury Launches– Sources Reveal Armani Is Coming In Summer
Armani is coming up with the supra luxury project in Dubai in the coming summers. This luxury project will be the brand’s second mega project in Dubai. Armani is going to partner with Arada the master developer, which is headquartered in Sharjah, for the launch of this new project in Dubai.
According to one of the top real estate agents in Dubai, this new project on the Palm is going to be the biggest launch of the summer. Though the developer has not yet formally released the prices, multiple inquiries have already been made. The pricing of the project will reflect Armani’s brand markup. Not just that, the pricing will also reflect the palm premium and the Dubai Property’s attraction for the rich, whether in the Gulf, the UAE, or from anywhere in the world.
If we go by the speculations from the market sources, there will only be a limited number of units, most probably between 100-300 residences in the Armani project. According to the sources, on a project like this, based on the existing client list or contacts, the developer would have already confirmed some percentage of the sales.
The sources suggest that the average transaction price for the home sold on the Palm in the year-to-date is approximately Dh3.8 million. If we go by the per square foot basis, the price stood at Dh2,738 a square foot. In both cases, the values have increased by more than 20 percent in comparison to 12 months ago.
Buyers who want to buy properties on the Palm have other options also. Nakheel is back in launch mode. They are coming up with the Como tower which is a 75-storey building where the starting price is Dh21 million.
According to industry sources, all the developers are speeding up their projects, especially the high-end projects in Dubai. The Dubai Land Department on Friday confirmed that there has been a Dh150 million sale at the Burj Khalifa. This tells us that the Dubai property market is continuing its high-performance run.
Head To The Canal
Several other developers in Dubai are also racing ahead with their launches, while Armani-Arada is all set to fine-tune their launch and sales strategy. This includes Damac, which added a new tower this week to its de Grisogono collection of towers in Dubai. The name Canal Crown simply gets its name from its closeness to the Dubai Canal. The emphasis here will be on the lifestyle elements, a touch of green, and even the ocean vibes like the earlier four de Grisogono.
Emphasis Is On The ‘Now’
The developers in Dubai are providing the investors every opportunity to invest in off-plan properties in Dubai, between now and high summer. According to the best real estate agents in Dubai, the Dubai developers do not want to miss out on even a single moment between a launch and having a confirmed buyer. There is a notable interest in Dubai property investment from overseas. Right now, no one is anticipating a summer slowdown happening.
More Towers On The Way
Azizi Developments is another developer in Dubai that is building up the hype ahead of a big reveal, through which it wishes to astonish investors. All this is based on what they said after buying a dream piece of land on Shaikh Zayed Road recently.
Another development in Dubai made a high-visibility announcement this week. Al Habtoor confirms the project for a super-tall magnificent residential tower in Dubai.
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