DAMAC Real Estate Development : Sales of Hotel Apartments and Residential Units in AYKON City Development Exceed 800 Units

DAMAC Properties today announced that more than 800 units of serviced hotel and residential apartments have been sold in its AYKON City development located on Sheikh Zayed road and overlooking Dubai Canal. The announcement follows successful sales events DAMAC organized in Dubai and Abu Dhabi on Saturday, bringing phase one of AYKON City's residential units to the market.

The Middle East's largest luxury private developer confirmed it has already sold out all units in phase one of its hotel apartments offering, with an average of five apartments a day sold since the project launch. Another sales event for phase 2 is planned before the end of Ramadan.

We have sold more than 800 units in AYKON City including serviced hotel apartments and residential units in just twelve weeks,' said Ziad El Chaar, Managing Director, DAMAC Properties. 'It is testament to the desirability of Dubai's real estate market, especially in the luxury serviced residences sector. The demand for the high-end, refined living in AYKON City is exceptional.'

Investors have snapped up units in the project from as far afield as China, India, and the United Kingdom. Almost 50 nationalities comprise the regional and international investor pool, residing in almost 40 countries.

Taking centrestage at AYKON City will be AYKON Dare, an adrenaline experience on the 80th floor of the Hotel, that will provide guests a rare opportunity to walk around the outside of the tower's roof for a real adventure and with panoramic views of the city, stretching as far as the Dubai / Abu Dhabi border, including the Burj area and Business Bay. When standing on the glass-floored viewing capsule, one can view directly below the Dubai Canal and the vehicular backbone of the emirate, Sheikh Zayed Road.

The project also includes AYKON Plaza, offering a selection of elegant dining and cafe culture around a beach club ambiance with a yoga lawn, running track and kid's playground. For a spot of pampering, the spa and luxury shopping outlets will provide that extra level of exclusivity.

'Innovative luxury products in prime locations are driving the resurgence in the Dubai property market, with quality projects experiencing high demand from international buyers,' added El Chaar. 'Dubai prices remain very competitive when compared to other international cities, and as confidence returns to the global markets, we are seeing a surge in investment.'