Construction on project expected to be complete in Q4 2020
Seven Tides, the UAE-based property developer, is rebranding and relaunching its hotel and residential apartments development on the Palm Jumeirah, it has been announced.
The two towers within the overall development were previously known together as the SE7en Residences the Palm. The development has now been given a new brand identity, namely Seven Palm, under the tagline, ‘your exclusive beachfront address’, complete with new logos and updated renders, the developer said in a statement.
The two components, one an investment-only hotel apartments component, and the other a neighbouring residential apartment complex, will be individually rebranded as the Seven Palm Hotel Apartments and the Seven Palm Residences respectively.
Abdulla bin Sulayem, CEO, Seven Tides, explained: “We are attracting an exceptionally diverse range of investors from Russia and the UK, to Brazil and Canada and we wanted to clearly differentiate each project and highlight their specific features and potential returns.”
“Each component offers a compelling proposition, based on ROI, location and quality, but they will attract a different type of investor, depending on their risk profile and strategy. The Seven Palm Hotel Apartments are restricted to investors only and offer a guaranteed return of 10% per annum for the first five years, whereas the Seven Palm Residences are open for investors and or owner occupiers without any restrictions but without guaranteed returns,” he said.
Seven Tides has so far sold 260 out of the 1,116 off-plan studio, one, two and three-bedroom apartments available in the Seven Palm development, the statement said.
Construction work on the project – which is Seven Tides’ third project on Palm Jumeirah – started in September 2018, with completion due during Q4 2020.
The Seven Palm Apartments are located in two 14-storey towers, joined at the top by an infinity pool and is located next to Seven Tides’ second development on Palm Jumeirah, DUKES The Palm, A Royal Hideaway Hotel.
The development also features two restaurants either side of the pool, a fully equipped gymnasium, direct beach access and various retail outlets, including a gourmet grocery store, laundry services and a pharmacy.
The apartments are sold furnished with high-end fittings and finishes plus walk-in wardrobes and en-suite bathrooms with rain showers. Kitchens are fully equipped with quality cooking range appliances and breakfast counters.
Bin Sulayem concluded: “The Palm Jumeirah, is not only unique, it is an iconic destination. Quality developments will produce high yields over time, while also benefiting from consistent longer-term capital growth.”
The official relaunch event will be held on December 5 at the St James’ Room, Dukes The Palm, A Royal Hideaway Hotel.