Dubai / Emirates Business
Dubai real-estate developer Azizi Developments has announced the launch of Royal Bay Residence, an exclusive collection of 90 fully serviced luxurious residential apartments situated on the crescent of Palm Jumeirah, next to Anantara Hotel. The new project is part of companyâ€™s Dh4.5 billion development plan to build thousands of flats in Nakheelâ€™s Al Furjan project and Palm Jumeirah. Overlooking the picturesque skyline of Dubai Marina, Hotel Atlantis and Burj Al Arab, among other landmarks, Royal Bay is offering home buyers a unique chance to secure a place in one of the few remaining developments on the eighth wonder of the world.
The building has been designed with 45 degree orientation to allow all the living rooms, kitchen and bedrooms to get sea view. Sizes range between 802 sqft to 1,638sqft for the apartments, while prices start at approximately AED 2.2 million and go up to AED 4.5 million. The project also offers an attractive 20:80 payment scheme, wherein buyers pay 80% only upon handover.
With a plot area of 4,787 sq. m and built up area of 11, 246 sq. m, the development offers a choice of 58 one bedroom, 30 two-bedroom units spread over 8 floors and two outstanding penthouses located on the 9th floor, offering the most spectacular panoramic views in the area and having its own pool and Jacuzzi. Construction of the AED350 million project has already commenced and is expected to complete by March 2017
â€œAzizi Developments has a different strategy. We prefer to start construction in our projects before the launch and sales process takes place, the construction of our boutique offering of Royal Bay Residence has already commenced and the response on the project is very positive. Royal Bay blends contemporary architecture with supreme level of comfort and flair. Every detail exudes quality and style. Itâ€™s a home with a resort feel â€“ direct beach access, swimming pools, gymnasium, recreational options, landscaped gardens and concierge services are few of the many features of the developmentâ€, said Farhad Azizi, CEO Of Azizi Developments.
â€œWe are in a very healthy phase of the property cycle, the next few months of market stabilization and then economy is going to recover very fast by mid 2017 and these are good times for buyers to invest in a good location and good property to make a profit and capitalize on quick price appreciation. Royal Bay is one of the last few developments at the crescent on Palm Jumeirah and will offer buyers great returns on their investment of up to 10%. Owning a one-, two- or three-bedroom unit on the crescent is an enticing proposition as Palm Jumeirah continues to lead the Dubai market in both rental yield and property value retentionâ€, further commented Farhad.