Damac’s Dubai development in demand

Damac’s Dubai development in demand

Dubai developer Damac Properties said  its latest project sold out in one evening.

Nearly 300 luxury apartments in Loretto, which is located in Damac’s Downtown Akoya project and overlooks a private park were snapped up during a suhoor taking place in six venues across the UAE earlier this week.

Damac said in a statement that more than 300 investors, from as far afield as the Saudi Arabia, Qatar, Kuwait, India, Pakistan, Russia and the CIS countries, flocked to the sales events.

“Top end luxury living, in the right location, with the right developer, is proving to be as in demand as ever before,” said Ziad El Chaar, managing director, Damac Properties.


“The market remains bullish, with savvy investors from all over the world recognizing the intrinsic investment opportunities that are abound.”

He added: “Despite the scaremongering to the contrary, the Dubai property market remains at the top of its game and is driving great value to smart buyers.”

Akoya by Damac is set around the Trump International Golf Club, Dubai, and includes the luxury-branded villas and mansions by Fendi, Paramount Hotels & Resorts and The Trump Organisation.

The project, which will begin handing over units next year will be fully complete in 2018 and include hotels, hotel apartments, a 1.3km outdoor retail strip, private park, schools and hospitals.

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