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Tue 9 Aug 2016 01:59 PM

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Dubai's Damac to launch $163k land plots in golfing community

Developer says it is providing opportunity for investors to purchase land plots in Akoya Imagine project

Dubai's Damac to launch $163k land plots in golfing community

Damac Properties on Tuesday announced the release of Akoya Imagine plots within an international golf community it is building in Dubai.

The real estate developer said it is providing the opportunity for investors to purchase land plots in the community, comprised of villas and featuring low annual community fees with an extended time to build for up to 10 years. 

Plots will be released with a starting price of AED600,000 ($163,300) and will go on sale on Saturday August 20 in Dubai at Jumeirah Emirates Towers Hotel from 4-10pm. 

Ziad El Chaar, managing director, Damac Properties, said: “Investments in golf communities typically enjoy higher returns as supply remains limited and are considered more financially stable than investments in financial instruments.

"For those investors considering suitable long-term opportunities, this exciting development represents the perfect occasion to plan for their children’s future, their own retirement or to grow and enhance their financial portfolios. Furthermore, Dubai is also known for its prime release estate and high yields, offering a more secure and stable investment environment than most other investment classes.” 

Damac Properties said it will also be launching its 33-storey Tower 108, a collection of serviced hotel apartments located in Jumeirah Village Circle, to be operated by Damac Maison de Ville. 

As of the end of March, Damac Properties has delivered over 15,800 homes, including approximately 2,000 hotel units. The company has a development portfolio of over 44,000 units at various stages of planning and progress.

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