Wednesday, September 17, 2014

Anantara Residences Dubai Takes On New York And London

Release of exclusive Anantara Residences penthouses at upcoming Cityscape Global 2014 will offer international investors a high value, high yield alternative to the London and New York property markets together with full access to five-star hotel facilities.

Dubai-based developer Seven Tides has announced the release of 12 ultra-exclusive penthouse apartments at its Anantara Residences Dubai on Palm Jumeirah, the two to four-bedroom ‘blank canvas’ units, starting from US $5.5 million.

Occupying prime positions in both the South and North Towers of the five-star residential community, the penthouses will be presented to investors at this year’s Cityscape Global exhibition, which takes place in Dubai from 21-23 September 2014.

To date, two penthouses have been sold with the remaining available units offered between 7,468 and 13,478 -square feet of shell and core space. All come with spectacular panoramic views of the Arabian Gulf, Atlantis Hotel, Burj Al Arab and Dubai Marina skyline, as well as private pools and extensive terraces for private entertaining.

“The Anantara Residences penthouses rank right up there with comparable investment opportunities in other global gateway destinations such as Paris, Rome or Vancouver, but still offer remarkable value in terms of price and square footage compared to properties in London or New York,” said Abdulla Bin Sulayem, CEO, Seven Tides.

“In addition to lifestyle considerations, international HNWIs are looking at location appeal and investment potential, and this is where Dubai – and Palm Jumeirah especially – with its unparalleled standard of living, global connectivity and business environment are ticking all the right boxes,” he added.

Priced from AED 20.5 million (US $5.5 million) up to AED 40 million (US $10.9 million) for shell and core space, comparable units in other high profile international cities would get you a 2,691-square foot five-bedroom furnished penthouse overlooking the Esplanade des Invalides in Paris’ 19th arrondissement (US $4.9 million); the top floor of a former palace in Rome with 4,575-square feet of space and Tiber river views (US $4.95 million); or, for a little extra, a three-level, seven terrace and two elevator penthouse in Vancouver’s Grace Tower (US $7.9 million).

However, New York and London remain a different story with US $26 million the asking price for a mere 5,000-square foot five-bedroom penthouse within The Park Laurel on West 63rd Street in Manhattan, and a four-bedroom, 4,100-square foot Chelsea Harbor area penthouse in London costing upwards of US $15 million.

“Space really does come at a premium and this is where the Anantara Residences offers investors an added advantage with an incredible amount of both indoor and al fresco space, plus exclusive access to the five-star facilities and services at the adjacent Anantara Dubai Palm Jumeirah Resort & Spa.

“However, besides the current value aspect, the Palm is also in a league of its own when capital appreciation is considered. The price per square foot for villas has increased by 55% over the last year and 31% for apartments all contributing towards significant yield figures – performance levels other destinations will find difficult to compete with,” added Bin Sulayem.

Residents can enjoy the benefits of usage of the hotel’s 4,000-square foot gym, 110,000-square feet of temperature controlled lagoon pools, six world-class dining and entertainment venues, signature Anantara Spa and private stretch of white sand beach.

Bin Sulayem also confirmed that 70% of the one and two-bedroom units in the South Tower have already been sold, with the recently released North Tower also performing well.

“Our clients are true global citizens, with buyers from around the world including GCC nationals, Russians, Asians and Europeans; and so Cityscape Global offers us another great platform through which we can reach out to prospective investors,” he remarked.

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