الحدث – رشاد اسكندراني – دبي
Luxury residential property developer Seven Tides is heading to Mumbai to showcase two properties from its SE7EN brand to India’s investment community at the Dubai Property Show, which will be taking place at the Bandra Kurla Complex, from December 7-9.
Last year the Mumbai-based property show generated AED1.8 billion ($490.1 million) worth of enquiries and attracted over 5,000 international high-net worth investors during its event.
Abdulla bin Sulayem, CEO, Seven Tides, said: “India ranks as the number one amongst the foreign investors for Dubai Real Estate, with a staggering investment close to AED 20 billion ($5.444 billion) annually. Dubai Land Department figures show that in the first half of 2018, Indian investors made 3,218 transactions worth more than AED5.9 billion ($1.6 million) in Dubai property.
“This is a unique opportunity for Seven Tides to meet HNW investors face-to-face to showcase our SE7EN brand developments.”
Seven Tides’ first mixed-use development SE7EN City JLT, valued at AED 1.3 billion, sold out phase one of the project in less than one week. The remaining units consist of studio, one, two and three-bedroom apartments.
Studio apartments start from AED 393,000 ranging in size from 384sqft to 415sqft, while one-bedroom apartments start at AED 768,000 and range in size from a minimum of 739sqft to a maximum of 800sqft. Prices of two-bedroom apartments start at AED 992,000 and the size is 1,073sqft. Finally, the entry price for three-bedroom apartments starts at AED 1.40 million and vary in size from 1,516sqft to 1,521sqft.
All apartments come complete with high-end fittings and finishes, presented in a contemporary and techno-trendy fashion, and also feature built-in wardrobes and branded white goods.
“SE7EN City JLT has a very attractive payment option consisting of a 5% reservation fee, followed by payments equal to 6% of the cost price, to be paid every subsequent quarter, with a completion date of Q4 2021. We estimate that studios should yield 12% per annum,” said Bin Sulayem.
At SE7EN Residences The Palm, an attractive payment plan, which comes with a developer-backed 10% guaranteed ROI over five years, is on offer for studio and one-bedroom hotel apartments.
Hotel apartments are sold furnished with high-end fittings and finishes, and are priced at AED 1 million for studios and AED 2 million for one-bedroom apartments.
Residential apartments start from AED 740,000 for studios and range in size from 314sqft to 376sqft, one-bedroom apartments start from AED 1,09 million and range in size from 560sqft to 946sqft, two-bedroom apartments start from AED 1,98 million and range in size from 1,021sqft to 1,131sqft and three-bedroom apartments start from AED 3,5 million and range in size from 1,511sqft to 1,666sqft. These apartments are sold unfurnished with high-end fittings and finishes plus walk-in wardrobes and en-suite bathrooms with rain showers. Kitchens are fully equipped with cooking range appliances and breakfast counters.
Construction work on the project started in September last year, with a completion date set for Q2 2020.
Bin Sulayem, concluded: “Palm Jumeirah continues to be one of the most sought-after locations in Dubai. Not only is this prime real estate, which according to industry experts produces high yields, it will also benefit from capital growth.”
“SE7EN Residences has proven to be an excellent addition to the area. This is another standout development, an exclusive property offering luxury residential and hotel apartments.”
Seven Tides’ stand at Dubai Property Show in Mumbai will be stand number D20.