By Sam Bridge
Seven Tides has announced it is rebranding and relaunching its hotel and residential apartments development in Dubai
UAE-headquartered upscale property developer Seven Tides has announced it is rebranding and relaunching its hotel and residential apartments development on the Palm Jumeirah.
The two towers within the overall development - previously known together as the SE7EN Residences the Palm. - will be rebranded as Seven Palm.
The two components, one an investment-only hotel apartments component and the other a neighbouring residential apartment complex, will also be individually rebranded as the Seven Palm Hotel Apartments and the Seven Palm Residences respectively.
Abdulla bin Sulayem, CEO, Seven Tides, said: “We are attracting an exceptionally diverse range of investors from Russia and the UK, to Brazil and Canada and we wanted to clearly differentiate each project and highlight their specific features and potential returns.
“Each component offers a compelling proposition, based on ROI, location and quality, but they will attract a different type of investor, depending on their risk profile and strategy."
He said the Seven Palm Hotel Apartments are restricted to investors only and offer a guaranteed return of 10 percent per annum for the first five years, while the Seven Palm Residences are open for investors and or owner occupiers without any restrictions but without guaranteed returns.
Seven Tides has so far sold 260 out of the 1,116 off-plan studio, one, two and three-bedroom apartments available in the Seven Palm development.
Construction work on the project started in September 2018, with completion due during the fourth quarter of 2020.
The official relaunch event will be held on December 5.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.