'Tremendous' response for Middle East's first Banyan Tree Residences, says developer

The 32-storey property is scheduled for completion in Q3 2019
'Tremendous' response for Middle East's first Banyan Tree Residences, says developer
By Bernd Debusmann Jr
Sat 03 Feb 2018 07:52 AM

The Middle East’s first Banyan Tree Residences has already received a “tremendous” response, with four floors already booked for a number of investors, according to Maher Sweid, the founder and managing partner of UAE-based developer Sweid & Sweid.

The first-of-its kind, 32-storey, 244-residence tower will be located on Dubai’s Al Helal Street where DMCC, the Montgomerie Golf Course, the Emirates Golf Course and Emirates Hills intersect.

The property will include one, two, three and four bedroom apartments, as well as duplex apartments with private gardens and three full-floor penthouses featuring cantilevered swimming pools.

The 110,000-square foot Banyan Tree Residences, Hillside Dubai will also include a spa, saunas, a 31-metre resort style swimming pool, a children’s pool, and a poolside café.

Speaking to Arabian Business, Sweid said that a sales office at the site will be opened on February 28.

Sweid added that the development is designed to be “an urban oasis.”

“This [means] being within the urban fabric of a city and centrally located, yet creating an environment which is akin to what you’d find in a resort location,” he said. “In effect, it’s trying to get the best of both worlds.”

Sweid added that the site’s location provides conditions which would “not be replicable” at other locations across the emirate.

“When we first came across the opportunity to invest (in) and develop that particular location, we did have to adjust some zoning so that we could fully materialise the value and take our built area vertical instead of horizontal and open up the plot,” he said. “It was a vision that we had from the start and we stuck with it all the way through.”

Additionally, Sweid said that Banyan Tree was a logical choice for an operator, given the location’s significant ancillary space and facilities.

“Those facilities, those spaces, which are in many ways the core parts of the project, we wanted them to be run and designed in a certain way and deliver a certain experience,” he said. “[That is] why for us they were a perfect match.”

Sweid noted that Banyan Tree has, and continues to be, “very involved” in the design stages of the property. After completion, a director of residences trained by Banyan Tree will remain “to ensure that standards are being met”, and Banyan Tree will conduct annual audits.

The property is scheduled for completion in Q3 2019.

“When we get to the typical floors, which will be shortly, we will be doing about a floor a week,” Sweid said. “It’s really accelerating at a very fast pace.”A sales office for apartments in the Middle East’s first Banyan Tree Residences will open on February 28, according to Maher Sweid, the founder and managing partner of UAE-based developer Sweid & Sweid.

The first-of-its kind, 32-storey, 244-residence tower will be located on Dubai’s Al Helal Street where DMCC, the Montgomerie Golf Course, the Emirates Golf Course and Emirates Hills intersect.

The property will include one, two, three and four bedroom apartments, as well as duplex apartments with private gardens and three full-floor penthouses featuring cantilevered swimming pools.

The 110,000-square foot Banyan Tree Residences, Hillside Dubai will also include a spa, saunas, a 31-metre resort style swimming pool, a children’s pool, and a poolside café.

In an interview with Arabian Business, Sweid said that a sales office at the site will be opened on February 28.

According to Sweid, even in its early stages of development, the Banyan Tree residences have received “a tremendous” response, with four floors already booked and reserved for a number of investors.

Sweid added that the development is designed to be “an urban oasis.”

“This [means] being within the urban fabric of a city and centrally located, yet creating an environment which is akin to what you’d find in a resort location,” he said. “In effect, it’s trying to get the best of both worlds.”

Sweid added that the site’s location provides conditions which would “not be replicable” at other locations across the emirate.

“When we first came across the opportunity to invest (in) and develop that particular location, we did have to adjust some zoning so that we could fully materialise the value and take our built area vertical instead of horizontal and open up the plot,” he said. “It was a vision that we had from the start and we stuck with it all the way through.”

Additionally, Sweid said that Banyan Tree was a logical choice for an operator, given the location’s significant ancillary space and facilities.

“Those facilities, those spaces, which are in many ways the core parts of the project, we wanted them to be run and designed in a certain way and deliver a certain experience,” he said. “[That is] why for us they were a perfect match.”

Sweid noted that Banyan Tree has, and continues to be, “very involved” in the design stages of the property. After completion, a director of residences trained by Banyan Tree will remain “to ensure that standards are being met”, and Banyan Tree will conduct annual audits.

The property is scheduled for completion in Q3 2019.

“When we get to the typical floors, which will be shortly, we will be doing about a floor a week,” Sweid said. “It’s really accelerating at a very fast pace.”

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Last Updated: Sat 03 Feb 2018 04:10 PM GST

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