DUBAI — In a bid to firm up its leadership position in luxury hotel apartments, Damac Properties has unveiled its latest luxury tower, Vantage, providing serviced living in 388 units in Jumeirah Village.



The 33-storey tower sits at the heart of this thriving new community, just five minutes from Arabian Ranches and six minutes from Emirates Hills. Work has already started on the project, which is expected to be completed by the second quarter of 2017.



Units are on sale with a starting price at AED 625,100.



The studios as well as one-bedroom up to three-bedroom apartments come fully-furnished with high-end kitchen fittings, furniture and stylish ceramics in addition to all services one would expect from a luxury hotel.



Vantage also offers an elegant lobby with 24-hour valet service, round-the-clock reception and concierge, a café and global restaurant, a state-of-the-art gymnasium, health and fitness club, plush swimming pool and luxurious spa. The tower will be managed by Damac Hotels – the hospitality arm of Damac Properties.



“Vantage is a great investment project, in the center of Dubai’s thriving new community,” said Niall McLoughlin, Senior Vice President of Damac Properties. “Close enough to everything that is happening in Dubai, while set in a peaceful and harmonious community, Vantage provides the best way to take advantage of the growth of the real estate market in Dubai and secure an investment for the future.”



Jumeirah Village continues to gain popularity and recently jumped to sixth in the rankings in the first quarter of 2014 for the most-searched location in Dubai by people looking to rent and seventh for those looking to buy through the real estate portal, propertyfinder.ae.



The location was described as being a “more viable and affordable option to live in than the more established villa communities and continue to enjoy interest with increasing infrastructure driving these areas to become bustling neighborhoods featuring villas, jogging tracks, supermarkets and landscaped greenery.”



By 2017, Damac will provide bespoke hospitality services to residents in more than 8,000 serviced hotel apartments which are currently under development across the region.



On December 30, 2013, Damac Properties opened its first luxury serviced hotel apartment project, the Damac Maison – Dubai Mall Street.



The 50-storey tower looking out over the world’s largest tower and the Dubai Fountain was fully sold out and the occupancy rates in the early months have been very high.



All of Damac’s luxury serviced hotel apartments offer investors the opportunity to purchase a fully-serviced unit and either live in it themselves, or add it to the Damac Hotels rental pool, where Damac will rent it out for a management fee.



Damac has delivered 9,318 units to date and currently has a development portfolio of over 25,000 units at various stages of progress and planning as of December 31, 2013. — SG