Damac sees ‘unprecedented demand’ for Aykon City project in Dubai
‘Significant number’ of units sold at $2bn Dubai Water Canal project
Damac reports “unprecedented demand” for the initial release of units at its Aykon City project, an upcoming six-tower project by the Dubai Water Canal.
The Dubai Financial Market-listed developer said it sold a “significant number of units” at a one-day sales event, although it did not release exact numbers.
“Vast quantities of enquiries by interested buyers were handled by the developer’s sales team,” Damac said in a statement. This signifies “a robust investor appetite” for high-end units, it added.
Construction on the development, which has a projected sales value of $2 billion, is due to start before summer.
Aykon City will include six towers, spanning a total of 4 million square feet, and completion is scheduled for 2021.
It will include the 80-storey Aykon Hotel and Residences, the 63-storey Damac Maison Serviced Hotel Residences, a 60-storey apartment tower and 65-storey office tower.
The other two towers will be around 30 storeys tall, and include what Damac called “state-of-the-art car lifts to each unit”, along with views over Dubai Canal and Safa Park.
A limited number of serviced residences were subject to an early sales release, with further releases expected in due course, Damac said in an earlier statement.
The project is located on the eastern and western sides of Sheikh Zayed Road, at the Safa Park intersection, close to the Dubai Water Canal.
