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Mon 25 Nov 2013 02:51 PM

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Dubai's Damac says Akoya project to expand by 33%

Developer launches sales of new Akoya Park phase which will add 14m sq ft to huge project

Dubai's Damac says Akoya project to expand by 33%

Damac Properties on Monday said it has launched sales of luxury villas at Akoya Park, the latest phase of its multi-billion dirham project in Dubai, which will add 14 million sq ft to the original 28 million sq ft at Akoya by Damac.

The new phase includes a dedicated 4.3 million sq ft of open parkland, which will be a first-of-its-kind development in the region, Damac said in a statement.

The villas will be set within the grounds of a green open space reserved for the residents of the community, it added.

A limited number of 200 villas have been made available, with prices starting at AED2.1m ($571,709).

Damac said Akoya Park will include its own open-air amphitheatre, running and cycling tracks, an 18-hole putting green, barbecue area, café, skate-boarding Park, floodlight football pitch, basketball, tennis and badminton courts, children’s water play area, a life-sized chess board and a luxurious beach-fronted swimming pool.

Akoya by Damac also includes the Trump International Golf Club, Dubai and branded villa concepts The Trump Estates, Damac Villas by Paramount and Fendi Villas.

“Imagine stepping out of your home onto more than 4 million sq ft of lush private gardens,” said Ziad El Chaar, managing director, Damac Properties. “Akoya Park will deliver a whole new concept of luxury living among nature, with all the amenities expected of a modern family.”

He added: “We know that our customers strive to own a luxury home in green open space, a world away from the hustle and bustle of city life, and we believe Akoya Park turns that aspiration into reality like no other project in the city.”

Damac Properties said it has completed 8,887 units to date and has a further 23,688 units at various stages of progress and planning across the Middle East region.

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savio 5 years ago

Another exciting project on paper and I was near to buy the dream again. Then I spoke to firends who put a deposit on Damac project still not out of the ground after over 5yrs.... So my dream was actually just a dream.. I will wati until Akoya is actually reality and finish so lets say 2016/2017 at best ( see where is Jumeirah golf estate today...). So ia m not ready to invest and put a deposit with no guarantee of the compeltion waht so ever. People have short memory it seems

SA1 5 years ago

What is the status of Reem from Emaar? there was so much rush for it. Sold out in hours... I see the project way in the desert past the bypass road.

Bob T Builder 5 years ago

A life sized chess board? I am definitely buying! It is exactly what my modern family always wanted.

Zahid 5 years ago

Savio. I 100% agree with you. It is better to buy a property that is already developed. I bought an apartment from Damac in Mar 2007 and latest news is that it will be delivered in Q3 2104. S0 7.5 years of construction time. I am sure when Q3 2014 will come, DAMAC will announce another new completion date in 2015 as happened in the past many times.

Billy 5 years ago

Excellent....33% bigger chance to get ripped off and cheated by Damac. Just what Dubai needs right now. How many times does the same lesson have to be learned by house buyers? Damac have shown exactly their true colours so only the ignorant or the stupid would even think about investing on anything Damac is building. Avoid Damac at all costs - there are far better opportunities out there.

Pedro 5 years ago

Why PEOPLE never learn the lesson or just look back at what happened in the past. If you like SPECULATION, this is the right place. And check the contracts, nothing will say that if the property is not finished or never finished you will get anything back.

Send your money to Red-Crecsant.at least you do something good

ENJOY

Medi 5 years ago

Hello Billy,

I am thinking of buying a villa in thisproject.
Do you have or know of any previous bad experience with Damac?
Please shar the information if possible.
thank you in advance.

R Jones 3 years ago

Ripped off with Palm Springs by Damac. Bought 2003 and they did not honour the contract. We had to virtually take them to court when they did give us back the money we paid. Still it did not take into account money lost using lawyers and the premium we paid a seller. Nakheel doing the same with Waterhomes. Only buy what is built.