DAMAC Properties Launches MOD Townhouses to Meet Demand for Contemporary Luxury

Thu, 2016-12-15 14:12

DAMAC Properties, one of the leading luxury real estate developers in the region, today announced the launch of MOD, a collection of townhouses in the heart of international golf community AKOYA Oxygen. The homes in this community, with a contemporary expression of luxury, are priced to be accessible to a diverse mix of buyers of all nationalities.

MOD townhouses at AKOYA Oxygen will go on sale in Dubai on Wednesday, December 21 at DAMAC Maison Cour Jardin (1st floor) in Business Bay -- Al Abraj Street from 4pm to 10pm. Priced at only AED 595,000 with payment over three years, the units present a rare opportunity to own a home in an international golf community, at prices that are less than an apartment elsewhere. Each MOD townhouse features one bedroom, a living room and study, with the added-value feature of a private garden space that buyers will enjoy with these properties.

Niall McLoughlin, Senior Vice President, DAMAC Properties, said: “We are excited to bring to market yet another innovative residential offering within a green community. MOD townhouses uniquely provide first-time home buyers and investors alike with the opportunity to climb onto Dubai’s lucrative property ladder and enjoy the benefits. At this price point, MOD townhouses are accessible to all customer segments, who can fulfil their dream of owning a home and enjoying the luxury and lifestyle of living in an international golf community, rather than buying an apartment.”

“To investors, these properties present a stable real estate asset that can boost and diversify one’s investment portfolio. With the scenario of an ever-growing population in Dubai that require quality homes in greener spaces, capital appreciation and preservation are practically assured. Another compelling reason to make this type of investment is the steady and high-yielding income. Dubai’s typical annual rental yields are currently anywhere from 6 to 10%, outperforming other popular investment cities, and due to its lower price in comparison to the anticipated annual rent, we expect MOD to reap returns at the highest end of this scale,” McLoughlin added.

AKOYA Oxygen is a 55-million-square-foot master development that will showcase one of the greenest living spaces in Dubai. Home to the 18-hole championship golf course by Tiger Woods Design, the eagerly anticipated development boasts easy access to Dubai’s major highways; yet is far enough away from the bustle of the city to offer a tranquil pace of life in a beautiful green setting.