More than 85 per cent DAMAC properties Vera Residences sold

06/11/2017 16:14 AST

DAMAC Properties, a leading luxury real estate developer in the region, has announced the response to units in Vera Residences, located in Business Bay.

The luxury apartments, which boast breathtaking views of Dubai Canal, went on sale on 4 November and more than 85 per cent of units released were sold on its first day of sales.

Priced from AED 499,000, investors snapped up apartment units in the 30-storey tower, which features elegantly appointed interiors and access to world-class amenities in an attractive and central location in Dubai. Due to the high demand, only a limited number of units remain.

"The overwhelming demand we witnessed for our latest project Vera Residences reaffirms the success of our strategy to provide investors with the right product at the right price. We thank our customers for choosing our value-driven real estate projects which we develop to meet customer demand. By listening to what our existing and potential customers want and focusing on product innovation we are able to present apartment units across a spectrum of prices based on design, amenities and, most importantly, location," said Niall McLoughlin, Senior Vice President, DAMAC Properties.

The Vera Residences payment plan includes an initial deposit of 20 per cent plus DLD registration fees, followed by monthly payments for a 35-month duration, as low as AED 4,990. Furthermore, 40 per cent is due upon completion of the project.

"Our customers recognise good value and Vera Residences represents an ideal investment opportunity in one of the most desirable locations in the city, with high rental yields that can potentially reach ten per cent per annum. Thanks to our attractive payment plans, owning a home or investment property is now more attainable," added McLoughlin.

Vera's close proximity to the prestigious Downtown Dubai district will provide the ultimate lifestyle for residents and the ability to live in a thriving community with connectivity to the city, by car, water, or metro.

CPI Financial