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Tue 30 Aug 2016 03:53 PM

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Gulf investors targets for $204m French Riviera project

Core Savills to showcase Parc du Cap residential and spa development at Cityscape Global in Dubai

Gulf investors targets for $204m French Riviera project

Parc du Cap, a AED750 million ($204 million) project on the French Riviera by Caudwell Collection, is to be unveiled to potential Middle East investors at Cityscape Global next month. 

Real estate consultancy Core Savills will reveal the full details of the exclusive residential and spa development to would-be-buyers on September 6-8.

Parc du Cap comprises 88 apartments ranging from one bedroom to four bedroom penthouses and the two five-storey buildings are set in landscaped gardens surrounding the outdoor swimming pool.

David Godchaux, CEO, Core Savills, said: “Historically the south of France has been very popular with investors from the Middle East, with many of our clients expressing interest on a regular basis. Despite this, it is rare for us to see a development of this great quality.

"We are confident it will be very well received by GCC investors who are already familiar with this part of France and who can appreciate the uniqueness of the project.”

A survey earlier this year revealed over 61 percent of the UAE’s wealthiest individuals expected to make overseas property investments this year.

Each of the apartments have private terraces, some of which have sea views, while the penthouses have a private swimming pool on the roof top with panoramic views of the Côte d’Azur.

The spa area includes outdoor and indoor swimming pools, Jacuzzi, steam room, ice room and gym. There are also private massage and treatment rooms for residents wishing to book a spa treatment and a tennis court.

Rod Taylor, director, Savills International developments, said: “We are seeing strong interest from Middle East investors – both from buyers looking to take multiple units for family use and from investors looking to diversify their property portfolio.

One bedroom apartments are priced from €597,500 and the penthouses from €4,750,000.

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