Dubai-based Damac Properties announced the sale of units at its latest project, Bay’s Edge, a Dhs400 million tower offering serviced apartments in Dubai’s Burj area.
The 22-storey tower will include 220 units – studios, one, two and three bedroom, all of which will be managed by Damac Maison, the developer’s hospitality management company.
Prices start from Dhs720,000, said Damac, and the project is slated for completion by end-2016.
“We have seen overwhelming interest in luxury serviced living in the Burj area of Dubai and that is why we are bringing Bay’s Edge to the market now,” said Ziad El Chaar, managing director, Damac Properties.
All properties under the Damac Maison portfolio include a spa, restaurants, lobby areas with meeting space, a kids club and baby-sitting services.
Amenities also include in-room hair and nail treatments, 24-hour room service and a chef who will cook for you in your apartment, personal shopping consultants and a team to arrange all overseas travel arrangements.
Damac has launched several projects since the start of the year, recently announcing that it sold more than 400 units in its DAMAC Towers by Paramount project, hitting sales of over Dhs1 billion.
The developer is focusing on the serviced apartments sector, and will have more than 4,400 luxury serviced hotel apartments completed or under development by the end of 2013.
“Serviced residences are fast becoming the number one choice for buyers, given the high-end living environment and the flexible rental options,” said Chaar.
Damac has completed 47 buildings to date and has a further 108 buildings at various stages of progress across the MENA region.