This Dubai developer has waived service charges for 5 years

Damac targets Millennials, prices 3-bedroom villa at Dh1.2 million

Dubai-based Damac Properties, which has previously offered luxury cars to private island to property buyers, will waive service charge for unit buyers in Akoya Imagine.

Located in Akoya Oxygen master development, the project is targeted towards young couples and families.

The Phase 1, comprising three-bedroom villas, will be released with starting prices of Dh1.2 million, with three-year payment plan. Unit buyers will benefit from free service charges for five years.

“Akoya Imagine is targeted towards a new type of buyer – young, professional and savvy - to the lifestyle and financial benefits of buying in an international golf course community.
"This type of community is proven to consistently yield higher returns than a purely residential one and there is a limited supply in Dubai,” said Ziad El Chaar, Managing Director, Damac Properties.

“Combined with the Tiger Woods Design element, a villa in Akoya Imagine presents a very lucrative investment,” he added.

When asked by Emirates 24|7, a company official said there were several phases planned, but unit numbers were not given.

In a recent report, KPMG said golf courses typically increase the valuation of adjacent real estate by up to 20 per cent when compared to similar real estate in a neighbourhood without the golf course component.

Akoya Oxygen is a 55-million-square-foot master development and home to the 18-hole championship golf course by Tiger Woods Design.

The units will go on sale on July 9 at Damac Maison Canal Views, Al Abraj Street.

In June 2016, Damac awarded 25 construction and consultancy contracts worth Dh3 billion in the first half of 2016, which included main packages for over 2,670 villas within its Akoya Oxygen project and the main package for Golf apartment buildings at Carson – The Drive at its Akoya by Damac.

 

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