Luxury Villas and apartments in Dubai are the most desirable homes for Iraqi’s, according to executives from one of the region’s top real estate developers.
DAMAC Properties is currently showcasing its luxury property portfolio at the nine-day Baghdad International Exhibition. Executives say they have been overwhelmed with the response to its latest master development, AKOYA Oxygen, a 55 million sq ft lush green community in Dubai.
According to figures released by the Dubai Land Department, Iraqi’s are one of the top investors in Dubai property, spending a combined total close to AED one billion in the first six months of this year.
“Iraq is a very big market for us and the success of the current visit to Baghdad only goes to show the level of interest in Dubai, and luxury villas in particular,” said Niall McLoughlin, Senior Vice President, DAMAC Properties. “The private gated communities of villas in both AKOYA by DAMAC and AKOYA Oxygen have been at the front of everyone’s minds as they provide an ideal second-home for smart buyers in Iraq.”
The exhibition, which runs until Wednesday 29th October, was officially inaugurated by Iraqi Deputy Prime Minster Mr. Baha Al A'raji on behalf of the Prime Minster Haider Al A'badi. The 41st Baghdad Exhibition is welcoming more than 500 companies from over 20 different countries. DAMAC Properties will be there throughout presenting its AKOYA Oxygen development in Dubai.
AKOYA Oxygen is a luxury community in Dubailand offering the greenest lifestyle in the region which includes numerous luxury living experiences set around a Championship-standard 18-hole golf course, which will be managed by The Trump Organisation, with thousands of trees, organic gardens and private parks.
The project also includes a five-star international hotel, a luxury desert-style wellness centre featuring holistic therapies, yoga, herbal treatments, and relaxation zones. The fully-integrated resort will also include globally-recognised retail brands, leisure & entertainment offerings, and organic market places all set within beautifully manicured & peaceful landscaping.
Established in 2002, DAMAC has delivered almost 11,000 units to date and currently has a development portfolio of over 26,000 units at various stages of progress and planning as of June 30th 2014, which includes over 10,000 hotel rooms and serviced hotel apartments.