DAMAC attains major milestone in AKOYA

DAMAC Properties, one of the region’s largest luxury real estate developers, announced today at Cityscape Global 2016 that 1,350 units in its flagship master development AKOYA by DAMAC will be delivered to investors during October 2016. Around 450 luxury villas and townhouses, spanning four clusters – Silver Springs, Queen Meadows, Brookfield, and Whitefield – are completed. Comprised of 11 types, the villas and townhouses range in size from three- to six-bedrooms, with many directly facing the international golf course in the community. Ziad El Chaar, Managing Director, DAMAC Properties, said: “AKOYA by DAMAC is our first master development in the UAE and the delivery of units to their owners marks a major milestone for us and demonstrates our ability to deliver a project of such complexity and size. The AKOYA golf course community is one that has been eagerly-awaited and we look forward to completion and delivery of all units in the community by 2018.” The highly-anticipated handover follows on from the first phase of deliveries late last year, in which 479 golf-view apartments were completed and delivered. Also ready for delivery between late this month and October are around 900 apartments in low-rise buildings, consisting of eight storeys. The apartments that investors will take possession of 5 buildings including Golf Panorama, Golf Horizon, Golf Vista, Golf Terrace and Golf Veduta, and feature spacious arrangements with direct golf course views and terraces. During Cityscape Global 2016, DAMAC Properties also announced five new project launches including the new phase of AKOYA Imagine 3-bedroom villas targeting millennials, the new 4-bedroom AKOYA Cuatro Villas, The Residences at AYKON City, AYKON Hotel & Hotel Apartments at AYKON City as well as the XV Villas at AKOYA by DAMAC. El Chaar said: “With exclusive, luxury residential apartments in the most convenient and easily accessible locations, we offer premium quality combined with the assurance of strong financial returns.” — SG