Dubai's Damac launches sales of world's first Fendi villas

More than 30 luxury properties released in developer's Akoya project; prices start at $9.8m

Dubai-based Damac Properties said on Tuesday it has launched sales of the world's first Fendi-styled villas.

The 34 properties are located in a private-gated community in the 42 million square foot Akoya by Damac master development off Umm Suqeim Road in Dubai.

Each unit comes with interior designs and decor from the Italian fashion brand's Fendi Casa range.

The villas, which come with a starting price of AED36m ($9.8m) and will be ready in Q1 2017, have a prime location overlooking the Trump International Golf Club, Dubai. The villas vary in size from 7,900 sq ft to 16,767 sq ft, Damac said in a statement.

"These exclusive, limited edition, Fendi villas are being designed with only the most stylish and demanding clientele in mind," said Ziad El Chaar, managing director, Damac Properties.

"The creativity and elegance brought to life in the world's first Fendi villas take pride of place in one of the most desirable locations in Akoya by Damac. Given the limited number of villas available, combined with the response we have already seen since announcing this project, we expect these one-off, select designs to be very well received."

Damac Properties has a long-established collaboration with Fendi. The two companies are also collaborating on projects in Saudi Arabia and Dubai Marina in the UAE.

Damac Esclusiva Luxury Serviced Apartments, housed within a 150 metre high tower overlooking the Kingdom Tower in Riyadh, will provide refined luxurious interiors by the Italian fashion house for more than 100 luxury serviced hotel apartments.

The two companies are also partnering on the interiors for private apartments, on the top 40-storeys of Damac Heights, which looks out over the Palm Jumeirah.

Damac said it has delivered almost 10,000 units to date and currently has a development portfolio of over 25,000 units at various stages of progress and planning as of March 31.

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