The developer of the 250-meter-tall “St. Regis Residences, Financial Center Road” in the Downtown earned Dh1 billion in committed sales within the “first hour of the introduction,” demonstrating that demand for ultra-premium real estate in Dubai will continue to hold up well into 2023.
That means that in the first 60 minutes of the debut, 70% of the 232 units that were available found a buyer. The Adventz Group’s tower, scheduled for completion in 2025, will enter the market as demand for branded residences in Dubai continues to rise.
Residential property sales have increased significantly throughout the first two months of 2022, according to market data. Luxury home sales, notably the sale of a penthouse on Jumeira Bay Island valued at more than Dh400 million, have increased the overall amount.
The most expensive penthouse at the St. Regis Residences cost Dh42 million, and the purchaser received access to a 5-bedroom home with a total square footage of 9,300. Four full-floor penthouses with the required private pool and a terrace guaranteeing a 360-degree view will be available. One-bedroom apartments start at Dh2.75 million. (These are the launch prices.)