A luxury Dubai-based developer is heading forward and keeping eye on the UK and Europe in order to drive property deals this year at its projects as they have got a deal of booking $152 million sales in the past year.
UAE-headquartered Seven Tides provided that it recorded a whole annual sales of about $152 million in regards to two of its developments – Golf View Seven City in Dubai’s Jumeirah Lake Towers (JLT) and Seven Palm on The Palm Jumeirah rather than the problems caused to the investors by the coronavirus pandemic.
Abdulla Bin Sulayem, CEO, Seven Tides said: “These are remarkable sales figures when we consider what an extraordinary year 2020 has turned out to be. Most of the world was locked down during April and the pandemic has caused disruption throughout the year for many sectors of the global economy, not just hospitality and aviation.“
Pointing to 2021, he added: “Many investors in the UK and Europe fear higher income and property tax rates, as governments look to reduce public finance deficits, after borrowing record amounts of money to tackle the pandemic. Should that transpire, it could well drive even further investment next year.”
The information provided by Seven Tides states that more than 63 nationalities invested a sum of $125.5 million in Seven Plam the last year, provided that Russian, British and French investors being the top three in terms of sales volume.
“The pandemic has made end-users re-evaluate their lifestyles. After the lockdown, residents started considering an upgrade to larger properties with spacious exteriors and leisure facilities on their doorstep,” said Bin Sulayem.
Seven Palm comprises of Seven Palm Hotel Apartments and Seven Palm Residences – two towers joined by one of the largest rooftop infinity pools in the region.
The cost at Seven Palm ranges from AED649,888 to AED3,388,888 and more than 57 percent of construction work is complete now.
“The coronavirus has also made developers and brokers adapt their business models, turning to technology to overcome the social restrictions so that investors could still make an informed decision from distance, with sales support on-hand in real-time,” added Bin Sulayem.
At Seven Tides’ Golf Views Seven City project in JLT, out of 195 nationalities that invested a whole together with a total of $26.5 million in the project last year, 25 percent were French whereas 12 percent were Italian, 11 percent were Russians along with 6 percent of total sales were provided to be of Indian nationals.
The development, which is provided with 2,617 residential apartments and also 150,000 sq ft of retail space, along with a hotel and restaurants, is said to be Dubai’s second-largest single-structured building in terms of build-up area which is next to Burj Khalifa, at 3,500,000 sq ft.