Damac Properties plans a sales launch for land plots within its Akoya golf community in Dubai as well as serviced hotel apartments at a 33-storey tower.
The Dubai Financial Market-listed developer said in a statement it would launch the ‘Akoya Imagine’ plots, located in Dubai, with a starting price of AED 600,000 ($163k). The plots are intended for “colourful villas” and feature “low annual community fees with an extended time to build for up to 10 years,” Damac said in a statement.
The plots are set to be released to the market on Saturday August 20 at the Godolphin Ballroom at Jumeirah Emirates Towers Hotel, Dubai, from 4pm to 10pm.
Ziad El Chaar, Managing Director at Damac Properties, said: “Investments in golf communities typically enjoy higher returns as supply remains limited and are considered more financially stable than investments in financial instruments.”
Damac also plans to launch serviced hotel apartments at its 33-storey Tower 108 in the Jumeirah Village Circle district. The apartments are to be operated by Damac Maison de Ville.