Damac Announces Launch Of New Project, Lincoln Park, In Dubai

Dubai-based developer Damac Properties has launched serviced apartments in its new development Lincoln Park, Dubai, with units on sale starting from Dhs449,000.

Lincoln Park, on Umm Suqeim Road, will be completed by the end of this year, the developer said in a statement.

The development consists of one, two and three bedroom units, inspired by Chicago-style architecture, with parapet walls and roof terraces. Facilities include a gymnasium, swimming pool, restaurants and retail outlets.

“The Umm Suqeim Road area is set for major development and growth in the coming years and this is a great opportunity to invest in Dubai real estate before prices inevitably rise,” Ziad El Chaar, Damac’s managing director said in the statement.

Lincoln Park is the fourth launch by Damac Properties this year following the DAMAC Residence in Dubai Marina and DAMAC Esclusiva in Riyadh – both being developed with interiors by Italian fashion-house FENDI – and DAMAC Towers by Paramount, a hotel and luxury serviced residences in Dubai’s Downtown area.

The first phase of the $1 billion DAMAC Towers by Paramount sold out on its opening day during a launch event in March, the company said.

Damac Properties has completed 37 buildings so far with 7,817 units and has a further 66 buildings at various stages of progress across the MENA region.

It recently announced that it was on target to complete 3,328 units throughout the region by the end of 2013.