Dubai: Located at Business Bay, the new 70-storey Regalia skyscraper from Deyaar developer has sold units worth Dh900 million. This sales figure has already exceeded the estimated 750 million dirhams costs of building the tower. Deyaar began selling homes in July, as the Dubai market showed signs of recovery for off-plan homes.
The Regalia is among the first off-plan launches in Dubai, which developers had been avoiding for the better part of two years. The Dh900 million represents 85 percent of the available units at Regalia, which is expected to be completed in 2024.
“The project witnessed an overwhelming response from domestic as well as international investors seeking high-end developments,” said Nasser Amer, Vice-President for Sales and Customer Service. “More than 85 percent of the units were sold which is a clear testimony to the appetite the market has for luxury developments”.