Damac says first Akoya Oxygen homes sell out 'in record time'

Dubai developer says AED2.5m five-bed properties were first to sell out at new 'green' development
Damac says first Akoya Oxygen homes sell out 'in record time'
By Andy Sambidge
Fri 22 Aug 2014 01:45 AM

Dubai-based Damac Properties has revealed that the first release of homes at its newest development in Dubai sold out in record time.

The developer, who announced the launch of Akoya Oxygen earlier this week, said all sales centres in Dubai dedicated to the project witnessed "huge numbers of clients and investors interested in various types of houses within the project".

The company added in a statement that five bedroom homes which were available for AED2.5 million were first to sell out but did not say how many homes were sold in total.

It said it will announce the second release of its Akoya Oxygen sales "in due course".

Akoya Oxygen is the first green master development plan spread over 55 million sq ft in Dubailand, and will showcase the greenest living spaces in Dubai with parklands, green open spaces and private gardens.

The project will also include an 18-hole championship golf course designed by an international golfing star due to be announced soon.

Ziad El Chaar, managing director of Damac Properties said: "The unprecedented success was due to developing a green concept that will be integral to this new community.

“On the financial front, our price point offered during this first day of sales was attractive for the different types of clients seeking various properties in term of size, location and amenities. A 5 bedroom house was available for AED2.5 million and these units were first to sell out. We are extremely confident that Akoya Oxygen will be the next success story after the success of Akoya by Damac.”

The residential properties will be integrated with retail and hospitality products including a five star hotel, a wellness centre, leisure and entertainment offerings, and organic markets.

Damac Properties said it has delivered almost 11,000 units to date and currently has a development portfolio of over 26,000 units at various stages of progress and planning as of June 30.

For all the latest real estate 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.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.