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Officials announcing the launch of Royal Bay Residence.

Azizi launches new luxury residential project in Dubai

DUBAI, February 25, 2016

UAE-based Azizi Developments has announced the launch of Royal Bay Residence, an exclusive collection of 90 fully-serviced luxurious residential apartments situated on the crescent of Palm Jumeirah, next to the Anantara Hotel in Dubai.

Construction of the Dh350-million ($95.2 million) project has already commenced and is expected to be completed by March 2017, said a statement from the company.

The new project is part of company’s Dh4.5 billion ($1.22 billion) development plan to build thousands of apartments in Nakheel’s Al Furjan project and Palm Jumeirah, it added.

Overlooking the picturesque skyline of Dubai Marina, Hotel Atlantis and Burj Al Arab, among other landmarks, Royal Bay offers home buyers a unique chance to secure a place in one of the few remaining developments on the eighth wonder of the world, said the Dubai-based developer.  

The building has been designed with 45-degree orientation to allow all the living rooms, kitchen and bedrooms to get sea views. Sizes range between 802 sq ft to 1,638 sq ft for the apartments, while prices start at approximately Dh2.2 million ($598,806) and go up to Dh4.5 million ($1.2 million).

According to the UAE developer, the project also offers an attractive 20:80 payment scheme, wherein buyers pay 80 per cent only upon handover.

With a plot area of 4,787 sq. m and built-up area of 11, 246 sq. m, the development offers a choice of 58 one-bedroom, 30 two-bedroom units spread over eight floors and two outstanding penthouses located on the ninth floor, offering the most spectacular panoramic views in the area and having its own pool and Jacuzzi, it stated.

On the project, CEO Farhad Azizi said: "Azizi Developments has a different strategy. We prefer to start construction of our projects before the launch and sales process takes place."

"The construction of our boutique offering of Royal Bay Residence has already commenced and the response on the project is very positive," he stated.

"Royal Bay blends contemporary architecture with a supreme level of comfort and flair. Every detail exudes quality and style. It’s a home with a resort feel – direct beach access, swimming pools, gymnasium, recreational options, landscaped gardens and  concierge services are few of the many features of the development," he added.

It offers spacious and well-designed bedrooms with floor-to-ceiling windows and a large terrace with unobstructed sea views. The bright and functional spaces are created with high quality materials and contemporary lighting fixtures, said the company statement.

The kitchen is fully equipped with hitech European appliances and all apartments are fitted with a selection of integrated appliances, including built-in cooker and built-in oven that seamlessly blend into the space for a modern and stylish look. Dishwasher, refrigerator/freezer and washing machine are also supplied, it added.

On the UAE property scenario, Azizi said: "We are in a very healthy phase of the property cycle, the next few months of market stabilisation and then economy is going to recover very fast by mid-2017 and these are good times for buyers to invest in a good location and good property to make a profit and capitalise on quick price appreciation."

Royal Bay, he stated, was one of the last few developments at the crescent on Palm Jumeirah and will offer buyers great returns on their investment of up to 10 per cent.

"Owning a one-, two- or three-bedroom unit on the crescent is an enticing proposition as Palm Jumeirah continues to lead the Dubai market in both rental yield and property value retention," noted Azizi.

The other key features of the project are three gourmet restaurants, housekeeping, room service, personalised butler, valet parking, chauffeur-drive service, climate-controlled infinity pools, children’s pool and play area, gymnasium and sauna, 24-hour concierge service, area with CCTV surveillance and 24-hour security, he added.-TradeArabia News Service




Tags: hotel | Dubai | residential | Azizi | luxury project |

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