DAMAC sells first phase of AKOYA Oxygen in Dubai

New Delhi: DAMAC Properties, one of the largest luxury property developers in Dubai, has recently sold the entire first phase of their green master development ‘AKOYA Oxygen’ on the launching day itself.

AKOYA Oxygen is the first green master development project spread over 55 million sq ft in Dubai, and will showcase the greenest living spaces with park lands, green open spaces and private gardens. The project will include an18-hole golf course.

Ziad El Chaar, Managing Director of DAMAC Properties, said ”The unprecedented success was due to developing a green concept that will be integral to this new community. On a project of this scale and size, over 55 million sq ft, the open spaces, amenities, gardens and water features will take up approximately 50% of the land and this will create a very attractive place to live and our clients recognized this value. What we saw was the appreciation of clients and investors who proved to be very aware that ‘green is the new black’.”

El Chaar added: “On the financial front, our price point offered during this first day of sales was attractive for the different types of clients seeking various properties in term of size, location and amenities. A four bedroom house was available for AED 2.5million  and these units were first to sell out. We are extremely confident that AKOYA Oxygen will be the next success story after the success of AKOYA by DAMAC.”

The luxurious residential properties will be integrated with retail and hospitality spaces including a five star hotel, a luxury wellness centre featuring wellness therapies, yoga programs, herbal treatments, diet control and exercise. The fully-integrated community will also include globally-recognised retail brands, leisure & entertainment offerings, and organic market places all set within beautiful manicured landscaping, a press release said.

Established in 2002, DAMAC Properties has delivered more than 11,000 units to date and currently has a development portfolio of over 26,000 units at various stages of progress and planning as of June 30, 2014.