800 apartments in Damac's Aykon City sold in 12 weeks

Phase one of project overlooking Dubai Canal sells out, says developer
800 apartments in Damac's Aykon City sold in 12 weeks
By Jamie Goodwin
Mon 13 Jun 2016 01:38 PM

More than 800 apartments in Damac Properties’ Aykon City development have been sold, the company said in a statement.

The project, which comprises both serviced hotel and residential apartments, overlooks the Dubai Canal on Sheikh Zayed Road.

The announcement follows sales events in Dubai and Abu Dhabi on Saturday.

“We have sold more than 800 units in Aykon City including serviced hotel apartments and residential units in just 12 weeks,” said Ziad El Chaar, managing director of 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.”

The developer confirmed it had sold all units in the project’s phase one, with an average of five apartments a day sold. A phase two sales event is planned before the end of Ramadan.

Investors of almost 50 nationalities from almost 40 countries including China, India, and the UK have purchased units, said the company.

The Aykon City development will feature Aykon Dare on the 80th floor of the hotel, which will allow guests to take an adrenaline-fuelled walk around the outside of the tower’s roof, providing panoramic views of the city and a glass-floored viewing capsule.

The project also includes the Aykon Plaza, which features restaurants, cafes and a beach club, plus a spa and luxury shopping outlets.

“Innovative luxury products in prime locations are driving the resurgence in the Dubai property market, with quality projects experiencing high demand from international buyers,” said 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.”

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