DAMAC Properties Launches Exclusive Four-Tower Project in AKOYA Oxygen

September 5, 2015

More than 700 units of Private and Hotel Apartments Released at ‘Viridis’ in Luxury Golf Course Community

An exclusive launch of more than 700 units in the desirable AKOYA Oxygen golf course community are being made available ahead of Cityscape Global 2015.

Luxury real estate developer DAMAC Properties has brought forward the release of ‘Viridis’, four towers in the green lifestyle community which is home to the Trump World Golf Club, Dubai, designed by Tiger Woods and the high-end retail and entertainment district, Vista Lux, which includes Dubai’s first Rainforest.

Two of the towers will comprise 370 hotel apartments which will be managed to five-star standards by DAMAC Properties’ hospitality brand, NAIA. Each unit will be fully serviced, including a fitted kitchen and can be placed in the company’s rental pool programme. The other two towers will include 356 private, residential units which will look out over the golf course and the full project.

All of the units have access to a high-tech gymnasium, tranquil swimming pool & lounge area, as well as retail and restaurants on the ground floors.

The four, 13-storey towers are the first high-rise units to go on sale in the 55 million sqft master development. Prices start from just AED 440,000, with construction set to be completed by the middle of 2019.

“With the summer coming to an end we are expecting the next few months to be a very busy time across the city,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “AKOYA Oxygen has surpassed expectations in terms of sales, and we expect the first apartment units to be made available in the project to be very attractive to investors visiting Dubai over the coming weeks.”

“Dubai’s tourism numbers continue to grow as more infrastructure and entertainment is added,” added McLoughlin. “This also reiterates our strong belief that hotel apartments are an attractive investment vehicle for those looking to capitalize on strong rental returns generated by the impressive influx of visitors to Dubai.”

AKOYA Oxygen is a 55 million-square-foot development in Dubailand, offering a green and lush community to escape the city. The whole ethos of the project is based around a green concept that will be integral to this new community.

The open spaces, amenities, gardens and water features set within the project are a key focus point and will take up approximately 50% of the land.

Located off the Umm Suqeim Road extension and around 15 minutes from AKOYA by DAMAC, AKOYA Oxygen will have an up market resort feel. The development will include contemporary residential properties of various sizes surrounding an 18-hole championship golf course, along with an organic produce market, luxury wellness centre, outdoor yoga enclave and retail outlets featuring well-known brands.

At the heart of the project is Vista Lux, the 1 million sqft central entertainment and retail district which includes a waterway and more than 1.5km of walkways, creating a key central entertainment and retail district in the heart of the project. The area will provide luxury retail, restaurants and entertainment to support the AKOYA Oxygen residents and will attract visitors from all over with many firsts for the region including a self-contained experiential Rainforest, a Hydroponic café & restaurant where visitors can select their own produce.

The Trump World Golf Club, Dubai which will run through the heart of the project will be managed by the Trump Organisation – one of the most reputed names in golf course management, and designed by Tiger Woods, one of the most successful golfers in the history of the game.

It’s AKOYA Oxygen’s green living credentials that really sets the development apart. AKOYA Oxygen, offers low emission residences utilizing recycled materials and solar energy, making AKOYA Oxygen the first green luxury residential address in Dubai. Homes will be built according to Dubai’s Green Building Regulations and Specifications with energy efficient materials and low-emission paints and will incorporate energy efficient lighting and air conditioning, solar heated water systems and landscape irrigation. The road network within the development, meanwhile, is designed in a way to minimise pollution, while there will be dedicated spaces for bicycles and hybrid and electric cars.

As of 30th June 2015, DAMAC Properties has delivered 14,375 homes and has a development portfolio of over 37,000 units at various stages of progress and planning. Included are more than 10,000 hotel rooms and serviced hotel apartments under development, which will be managed by its hospitality arm, DAMAC Hotels & Resorts.