GCC-developer Al Madar Property Investments has sold over 80 percent of its 22-floor Scala Tower, located in Dubai’s Business Bay.
Keith Pepperdine, sales and marketing director at Al Madar Group, said a significant percentage of the sales had occurred during the summer months of this year, a period usually characterised by a lull in the property market.
The Scala Tower comprises 182 residential units including studios, one bedroom and two bedrooms, and will be ready for delivery by the second quarter of 2009.
“We are pleased with the sales success of the Scala Tower so far and we are confident that the tower will soon be completely sold. The strategic location of the tower in the heart of Business Bay has been a key factor that has driven sales.”
The tower is the first project for Al Madar Property Investments in the UAE, and would be followed by launches of other real estate developments in the country, he added.
Pepperdine said by launching a series of high-profile projects in the UAE, Al Madar is looking to capture a sizeable share of the country’s booming property market and reinforce its regional standing.
Follow us on
