$27m sales seen at Dubai's first Banyan Tree Residences project

Due for handover in the third quarter of 2019, developer reports strong sales in first month since launch
$27m sales seen at Dubai's first Banyan Tree Residences project
By Staff writer
Thu 26 Apr 2018 01:55 PM

UAE developer Sweid & Sweid has announced that it has sold over AED100 million ($27 million) of the Middle East’s first Banyan Tree Residences during the first month of sales.

Due for handover in the third quarter of 2019, the tower will become Dubai’s first urban residential resort.

Located on a 110,000 square foot site, the developer said 90 percent of the area has been dedicated to resort-style amenities and lush landscaping - with the remaining 10 percent for the tower footprint.

The property’s amenities feature a clubhouse including a Banyan Tree Spa, a fitness centre with saunas and squash court, an indoor children’s play area, and a poolside cafe.

“The Banyan Tree Residences promises to be one of the most prestigious addresses in Dubai. Having all the leisure facilities and amenities in a setting that provides residents with rarely-found abundant green space, we are confident that tremendous value will be created for buyers and investors for the years to come,” said managing partner Maher Sweid.

The stand-alone tower’s 244 residences are located at the intersection of DMCC, Emirates Hills, Emirates Golf Course, and the Montgomerie Golf Course.

Prices start from AED1.49 million for a one-bedroom, AED2.3 million for a two-bedroom, and AED3.9 million for a three-bedroom unit.

“We’re seeing a lot of demand for larger units – especially the duplex apartments, which offer private gardens and double-storey living rooms, a unique aspect of the project,” added Sweid.

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