DAMAC Properties Brings Forward Launch of First Project on AKOYA Drive

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Following huge response to the launch of AKOYA Drive – a 1.3km shopping strip at AKOYA by DAMAC – DAMAC Properties has brought forward the launch of the first units on Dubai’s new haute spot, including the first hotel from NAIA by DAMAC


New Delhi, Delhi, India., June 10, 2014 - (PressReleasePoint) -
Following huge response to the launch of AKOYA Drive – a 1.3km shopping strip at AKOYA by DAMAC – DAMAC Properties has brought forward the launch of the first units on Dubai’s new haute spot, including the first hotel from NAIA by DAMAC.
 
NAIA luxury hotel rooms and Hotel Apartments are being made available for investment by the luxury real estate developer, with a starting price of AED 680,000. The project is expected to be completed in Q1 2018.Interested parties can register now at www.damacproperties.com.
 
“Since announcing the concept, we have been inundated with investors wanting to be part of AKOYA Drive,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “Given the heightened interest in the development, and AKOYA by DAMAC as a whole, we have decided to bring forward sales on the first phase of the AKOYA Drive project.”
 
Combining distinguished architecture and stunning views across the Trump International Golf Club, Dubai, the 28-storey NAIA Hotel – AKOYA Drive – has c.500 units which providea 40% share in room revenue to owners. The units come complete with title deed and 14 free nights stay a year as well as zero service and utility charges. Based on an investment of AED 700,000,return on investment is projected between 11.2% in the first year of operations, rising to 14.4% by 2020.
 
In addition to the NAIA Hotel, the second buildingwill feature NAIA Hotel Apartments’ managed by NAIA by DAMAC, offering spacious living, with tastefully appointed interiors and fully fitted kitchens. These hotel apartments offer investors the option of a rental pool for all units to benefit from living in and earning returns when checking out. The project also includes a state-of-the-art gymnasium, swimming pool, and steam& saunafacilities.
 
AKOYA Drive is similar in length to ‘The Walk’ at Jumeirah Beach Residences (JBR) and reflective of Rodeo Drive in Beverly Hills, The Croisette or Champs Elysees in Parisand will include high-end food and beverage, retail shopping and serene locations to meet friends.
 
The shopping strip also includes four dedicated areas with entertainment for the whole family, including a golf putting green, an outdoor ice-skating rink, an interactive kids play area and a large outdoor cinema screen.
 
“There is a huge attraction for open, outdoor areas in Dubai, with green spaces and a relaxed environment,” added McLoughlin. “AKOYA Drive is going to create a thriving hub where home and entertainment combine with the quality serviced living in the best golf development in the world.”
 
The AKOYA by DAMACmaster developmentis a42 million square foot golf community off Umm Suqeim Road in Dubai. The project includes mansions, villas, luxurious apartments anda retail centre all around the Trump International Golf Club, Dubai. The project also includes a 14 million sq ft extension to the original 28 million sq ft at AKOYA by DAMAC, with a dedicated 4.3 million sq ft of open parkland, which will be a first-of-its-kind development in the region.
 
DAMAC Properties has delivered almost 10,000 units to date and currently has a development portfolio of over 25,000 units at various stages of progress and planning as of March 31st 2014.
 
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About DAMAC Properties:
 
For over a decade, the real estate portfolio of DAMAC Properties has been at the forefront of the Middle East’s luxury real estate market. With an enduring passion for design and quality, the company has built a reputation for creating some of the most iconic and desirable properties in the UAE, Qatar, Saudi Arabia, Iraq, Jordan and Lebanon.
 
Established in 2002, DAMAC has delivered almost 10,000 units to date and currently has a development portfolio of over 25,000 units at various stages of progress and planning as of March 31st 2014.
 
Always at the forefront of visionary concepts, DAMAC has relationships with Paramount Hotels & Resorts, (the official licensee of Paramount Pictures), Italian fashion houses Versace Home and FENDI Casa for branded residential apartments and villas and The Trump Organisation for the development and operations of the Trump International Golf Course, Dubai and The Trump Estates within the AKOYA by DAMAC development.
 
In addition to support services provided by the Dubai headquarters, the company’s comprehensive Customer Care Program provides solutions through its network with offices in the UAE, Jordan, Iraq, Lebanon, KSA and Qatar.
 
Further information is available at www.damacproperties.com or join DAMAC Properties on Facebook, Twitter (@DAMACOfficial) and YouTube.
 
For more information please contact: Niall McLoughlin, Senior Vice President - Corporate Communications, DAMAC. Tel: +971 4 3732190 │ Fax: 00 9714 3732335 │Email: niall.mcloughlin@damacgroup.com


Press Contact:
Rupa Thomas
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