UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has announced that it has sold 260 apartments within its SE7EN Residences The Palm development in Dubai.

 

Construction work on the project – which is Seven Tides’ third project on Palm Jumeirah - started in September 2018, with completion due during 2020.

 

Russian nationals have been the top investors by volume, buying 45 units (17%), while UK investors acquired 32 units (12%) closely followed by Brazilian investors who snapped up 24 apartments (9%). Other notable investors came from Germany (8%), Poland (7%) and Belgium (5%).

 

In all, investors came from 14 different countries, including Pakistan, Algeria, Canada, Kazakhstan, Ukraine, Austria, Greece and India. 

       

• Russian nationals become lead buyers in new Dubai beachside development

• Investors from 14 countries snap up 260 properties at SE7EN Residence The Palm

• Hotel apartments come with a developer-backed 10 per cent return on investment (ROI) over five years 

 

Abdulla bin Sulayem, CEO, Seven Tides, said: “The nationality of investors in our SE7EN brand developments, and in particular our SE7EN Residences The Palm project, has been one of the most diverse that we have witnessed in recent years.

 

“Despite the tough trading conditions that many developers have been facing over recent months, SE7EN Residences The Palm remains a very attractive investment opportunity for investors from across the globe.

 

“This underscores the point that if you offer a compelling proposition, based on ROI, location and quality, they will invest irrespective of prevailing market sentiment.”

 

The 14-storey two tower complex, joined at the top by stunning infinity pool, is located next to Seven Tides’ second development on Palm Jumeirah, DUKES The Palm, A Royal Hideaway Hotel. Providing views over the Dubai Marina skyline, the development also features two restaurants either side of the pool, a fully equipped gymnasium, direct beach access and various retail outlets including a gourmet grocery store, laundry services and a pharmacy.

 

Hotel apartments at SE7EN Residences The Palm come with a developer-backed 10 per cent guaranteed ROI over five years.