Dubai developer Damac launches Dhs 850m project within Akoya Oxygen

Dubai developer Damac Properties has launched a new hotel and residences project within its Akoya Oxygen master development.

Valued at Dhs 850m, the Navitas Hotel and Residences project includes five 14-storey towers. One of the towers comprises 312 hotel rooms, which will be managed by Damac Hotels and Resorts. The other four towers will comprise private, residential units, which will look out over the golf course and the full project.

The towers are set on a common podium and offer their own retail element.

All the residents will have access to a gymnasium, a swimming pool and lounge area and restaurants on the ground floors.

Unit prices begin from Dhs 440,000, Damac confirmed in a statement.

“The five, 14-storey towers are a real opportunity for those looking for investment properties,” said Damac’s senior vice president Niall McLoughlin.

“By investing in a hotel room at Navitas Hotel and Residences, you’ll benefit from Dubai’s flourishing hospitality industry, which will be a gateway to high annual returns.”

Located off the Umm Suqeim Road extension, Akoya Oxygen is a 55 million square foot development in Dubailand.

The development will include residential properties of various sizes surrounding an 18-hole championship golf course designed by Tiger Woods, along with an organic produce market, luxury wellness centre, outdoor yoga enclave and retail outlets.