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La Residence sold out upto 70% in less than two months
- January 28, 2007, 4:23 pm
Luxury lifestyle provider and the region’s leading private sector developer, DAMAC Properties, in less than two months has sold 75 per cent of ‘La Residence at the Lotus’, the company’s first residential tower in Business Bay.
Often referred to as the upcoming Manhattan of the Middle East, Business Bay is Dubai’s freehold commercial and business cluster strategically located off Dubai Creek and extending all the way to Sheikh Zayed Road.
‘The beauty of the island inspired DAMAC Properties to pioneer a residential complex at the heart of Business Bay. This residential tower at Business Bay was a strategic decision and a much needed project as majority of them in the area are commercial. With this launch people staying at La Residence will be - just a walk away from their offices in Business Bay. We are delighted to introduce yet another masterpiece for the discerning community in the Middle-East and worldwide,’ said Hussain Sajwani, Chairman, DAMAC Group.
La Residence at the Lotus will have 1, 2 and 3 bedroom apartments, with each master bedroom having a private spa-bath, thoughtfully planned space and utilities, tastefully chosen furniture and joinery and elegantly designed interiors. In addition, the tower will have parking at 3 levels of the podium plus 5 basements, valet parking, laundry service, mail collection and delivery, security, state-of-the-art IT facilities, room service, 24 hour concierge and help desk facilities.
The architectural design of the spectacular 58-storeyed tower is motivated by petals of the Lotus flower. ‘We are proud to have sold 75 per cent of the tower in less than two months. Our inspiration for this project comes from the spectacular surroundings untouched by the stressful buzz of business life, the site location, the enveloping water body and one of the most celebrated flowers in the world, the lotus,’ said Peter Riddoch, CEO at DAMAC Properties.
The ‘La Residence’ tower also offers the perfect choice of amenities such as; swimming pool, kids’ pool, jogging track, gymnasium, with separate male and female changing rooms, function rooms, health club, sauna, steam and massage facilities and children’s play area. The project is a distinctive lifestyle expression that offers unparalleled opportunities such as shopping at the varied choice of branded stores, unwinding over a cup of coffee or meeting up with friends and family over dinner. The tower has retail stores at the ground and mezzanine levels in addition to cafés, juice bars and restaurants with outdoor settings.
In line with the government’s introduction of freehold ownership, DAMAC was the first to introduce iconic properties on all the freehold master planned development launched by Dubai and Abu Dhabi governments. Throughout the spectrum of 52 buildings launched to date, DAMAC Properties provides a luxury lifestyle that is second to none. The total value of DAMAC Properties’ projects is over US$4 Billion. It is a subsidiary of the DAMAC Holding established in 1982.
DAMAC Holding has now grown into a global conglomerate with more than 6000 employees in 18 countries. Being the first private sector company to make a commitment to Dubai’s real estate market, DAMAC Properties has become the market leader with a strong sales record to its credit.
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