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Tue 18 Feb 2014 01:56 PM

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Seven Tides to launch phase 2 of Palm apartments

Dubai developer says time is right to release 64 units of Anantara Residences project

Seven Tides to launch phase 2 of Palm apartments
Seven Tides CEO Abdulla Bin Sulayem

Dubai-based developer Seven Tides said on Tuesday it is preparing to launch phase two of its Anantara Residences development on Palm Jumeirah.

The company's CEO, Abdulla Bin Sulayem, said 80 percent (77 units) of luxury apartments in its first phase had been sold.

The Anantara Residences second phase will be launched at the Madinat Jumeirah on February 20-22, the company said in a statement.

"We will launch the next phase of our Anantara Residences project, having secured sales for 80 percent of our existing stock in phase 1," said Bin Sulayem.

"The market is exceptionally buoyant at the moment and property on the Palm Jumeirah is highly sought after, so it is a good time to release the second phase of our luxury development," he added.

Apartment sales on Palm Jumeirah increased by up to 43 percent last year, according to Asteco.

Seven Tides said it will be releasing two floors (3 and 7) consisting of 64 units. Senior executives will be on-hand to offer additional information and advice and of course arrange site visits, it added in the statement.

The collection of 442 luxury apartments and 14 penthouses, which range in size from 1,158 up to 9,500 square feet, are fronted by a private beach.

Prices for the Anantara Residences units start from AED 2.6 million with buyers also able to enjoy exclusive access to the adjacent 293-room five-star Anantara Dubai Palm Jumeirah, Resort & Spa.

There are also a limited number of three and four-bedroom penthouses, each with sunken swimming pools, private terraces and balconies offering up to an additional 3,300 square feet of space. Potential penthouse owners also have the option of fully customising their interiors.

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