By Andy Sambidge
Developer set to launch sales in second residential tower of Montrose project following successful sales of first tower
Deyaar Development has said it has concluded the sale of residential units in Tower 1 of its new Montrose project in Dubai.
The developer said the majority of units sold at an average of AED1.166 per sq ft and are set to be delivered by December 2016.
Buoyed by the immediate uptake of residential units in tower-1, Deyaar said it will open sales of units in the second residential tower at Montrose by the end of September.
Saeed Al Qatami, CEO of Deyaar, said: "We are delighted with the great response that the first sales event for Montrose's residential units has generated.
"The positive turnout highlights the growing demand for urban upscale properties in Dubai. Montrose, which is located in South Barsha on Umm Suqueim Road, is witnessing building projects to be completed in the next 12 months.
"The community aspires to become one of the most sought after residential addresses in Dubai offering premium infrastructure and quality amenities."
The Montrose project comprises three towers - a hotel apartment tower and two residential towers.
Each of the towers includes three basement levels and 19 stories. The two residential towers feature 68 one-bedroom, 68 two-bedroom, five three-bedroom and two four-bedroom apartments.
The hotel apartment tower has been designed to feature 88 studios, as well as 68 one-bedroom and 24 two-bedroom units.
The project is taking shape at Barsha South in DuBiotech, a life sciences cluster under TECOM Investments and one of Dubai's greenest corridors at the extension of Umm Suqeim, towards Mohammed Bin Zayed Road.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.