A Dubai landlord has put 300 apartments in Jumeirah Beach Residences (JBR) up for sale, the selling agent behind the deal has confirmed.
Dubai real estate agency Cluttons has been instructed by the unnamed landlord to sell all 300 units in the Shams 1 tower in JBR, where average prices start from AED1.2m ($326,726) and up to AED3.2m for a four-bed loft apartment.
During the first six months of this year alone, average residential values in Dubai rose 30.6 percent, Cluttons said. Average prices in Dubai Marina at the end of the second quarter of this year stood at 34.2 percent higher than the same period in 2012.
“The Jumeirah Beach Residence community within Dubai Marina remains the top target for most buyers in the area, due to its beachfront location and extensive Jumeirah Beach Walk retail colonnade. Despite its relative maturity, having launched in 2002, we have recorded a consistently high level of buyer demand for JBR properties,” said Lucy Bush, head of residential sales and leasing at Cluttons.