LIV says Dubai Marina tower now topped out
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LIV says Dubai Marina tower now topped out

LIV says Dubai Marina tower now topped out

The developer said the property was on track for completion in 2019

Gulf Business

LIV Real Estate Development has announced the topping out of its residential tower in Dubai Marina.

The 27-storey LIV Residence Dubai Marina comprises 179 apartments, including two duplex penthouses, which will offer a panoramic view of the marina.

The project was launched in January 2018 and LIV says it has bucked the soft real estate market in the emirate, with 75 per cent of inventory sold worth more Dhs300m ($81.67m).

Prices start from Dhs837,000 for studios.

Following the topping out of the structure, the final stage of the development is set to be completed in the summer of 2019.

LIV said it had invested in an energy efficient design using products from Siemens Appliances, TOTO, Daikin and KONE to lower artificial light and HVAC costs.

“It has been almost 10 months since we successfully launched LIV Residence Dubai Marina. We have maintained sales momentum over the first two phases of the project and feel we have delivered on our promises made to purchasers. The project was based on a strong location and a well-judged pricing that we knew would remain attractive in a softening market,” said LIV Developers CEO Latif Habib.

LIV is developing boutique luxury properties in other cities including Los Angeles and New York.

Director Ishan Khwaja said the company planned further residential projects in Dubai under a conservative expansion strategy.

Property prices and rents in the emirate have been on a downward slide over the last two years, with a survey from property consultancy Cavendish Maxwell predicting the trend would continue in the fourth quarter.

Read: Dubai agents expect property prices, rents to decrease up to 5% in Q4


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