Damac Properties is marketing 34 villas set to be built at its Akoya project on the outskirts of Dubai for prices starting at Dh36 million.
The Dubai-based property developer is hoping that the fact that the villas will have interiors designed by italian fashion house Fendi and are to be located overlooking its Trump International Golf Club will encourage buyers to shell out top dollar for the off-plan homes.
Damac said that the villas will be the "world's first Fendi-styled villas" and would each come with interior designs and decor from the Fendi Casa range which includes crystal chairs and Urano beds.
It added that fur would be used for the sofas, cushions and carpets, couches would be made from leather treated with the same flair as a Selleria handmade and numbered bag and marble, stone, and woods would be used in the interiors.
The villas, which will be located in a private-gated community in the 42 million-square-foot Akoya by Damac master development off Umm Suqeim Road and Emirates Road in Dubailand, will vary in size from 7,900 square feet to 16,767 square feet.
By comparison villas at Emaar's established Emirates Hills project are selling for around Dh30 million and those at Jumeirah Islands are going for around Dh20 million.
Damac said that the Akoya villas are scheduled to be completed in the first three months of 2017.
“These exclusive, limited edition, Fendi villas are being designed with only the most stylish and demanding clientele in mind,” said Ziad El Chaar, managing director of Damac Properties. “The creativity and elegance brought to life in the world’s first Fendi villas take pride of place in one of the most desirable locations in Akoya by Damac.
Damac started launching off-plan luxury villas at the Akoya development last summer. The project is ultimately intended to comprise 7,367 luxury homes as well as a Donald Trump-designed branded 18 hole PGA Championship golf course.
Damac said that the amount of money it had received in advances from customers during the first quarter of the year increased to US$1.86 billion – an 8.7 per cent increase on last year due to an increased number of off-plan sales and cash collection from customers during the quarter.
At the same time rival developer Dubai Properties also announced that it was starting marketing 200 home apartments at its delayed Remraam project in Dubailand with prices starting from Dh560,000
Dubai Properties said yesterday that it was launching the new completed apartments in the 56 building community located off Emirates Road close to Al Maktoum International Airport after it sold a previous 200 apartments it started marketing in May.
The scheme was hit hard by the global financial crisis but rents in the project have been rising recently.
“The continued investor interest in Remraam is testament to the demand from Dubai residents and seasoned investors for well located, easily accessible and competitively priced housing,” said Khalid Al Malik, group chief executive of DPG. T
“The fact that these apartments are complete and available immediately is a great bonus for those using it as a first purchase or a family home and we expect to see similar demand for the additional units just released.”
lbarnard@thenational.ae
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