Dubai developer Meraas has teamed up with luxury brand Bulgari to launch Bulgari Residences, part of the Bulgari Resort and Residences project on Jumeira Bay Island.
Together with hotel Bulgari Resort Dubai, announced in May last year, it will form a 1.7 million square foot master development.
The residential project, comprising 165 apartments, eight penthouses and 15 mansions, includes landscaped private gardens swimming pools and gyms, with a variety of dining and sporting options on-site, like the 50 berths Marina and Bulgari Yacht Club, according to Meraas.
Apartments will range from one to four bedroom units in six free-standing buildings, while mansions will come with three to six bedrooms.
“The UAE and more particularly Dubai have proven to be exceptionally attractive for major luxury brands to set up and showcase themselves to the region’s potential customer base,” said Cherif Hosny, chief hospitality officer, Meraas.
“Additionally, Dubai has demonstrated a strong track record for constantly and continuously being the first in the region to introduce new and appealing high-end, superlative developments. Demand for prime property will continue to rise – and as the market matures, expectations will rise for qualitative, detail-focused and refined finished products. As that demand grows, investment in such developments will also surge.”
Silvio Ursini, EVP of Bulgari, said the master development was scheduled for completion in 2017, and is targeted at an international niche audience looking for “the most exclusive experience”.
The accompanying Bulgari Resort Dubai, Bulgari Hotels and Resorts’ fifth worldwide property, will comprise 101 rooms and suites in the main hotel and 20 hotel villas.