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29 March 2024

Damac launches sale of apartments in 'Bay’s Edge' project in Burj area

220 apartment in the 22-storey 'Bay's Edge', being developed by Damac Properties in the Burj Area, are now available for purchase.

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By Staff

Damac Properties has launched sales of apartments in its latest project in the Burj area of Dubai.

Bay’s Edge will be a 22-storey tower with 220 units are made up of studios, one, two and three bedroom apartments.

The Dh400 million project is set for completion by the end of 2016.

“We have seen overwhelming interest in luxury serviced living in the Burj Area of Dubai and that is why we are bringing Bay’s Edge to the market now,” said Ziad El Chaar, Managing Director, Damac Properties.

The Rera (Real Estate Regulatory Authority) Rental Index showed the two areas in Dubai which saw the highest transaction activity and price increases last year were the Burj Area and Dubai Marina.

Units in the project are available through www.damacproperties.com, or at Damac Properties offices in Park Towers, DIFC and Ocean Heights or the Mall of Emirates, on a first-come-first served basis. Prices start from Dh720,000.

Top-end home prices in Dubai increased 18.3 per cent over the last 12 months, ranking the emirate fourth among the world’s luxury property markets, according to a recent report by Knight Frank.

“Dubai’s recovery and resurgence has been more pronounced than almost anywhere else in the world, and with its focus as an international business hub and tourism hotspot, global investors see the luxury real estate market as an attractive investment opportunity,” El Chaar added. “Serviced residences are fast becoming the number one choice for buyers, given the high-end living environment and the flexible rental options.”