Defying global trends, Dubai’s luxury real estate market has shown incredible resilience.Flock of wealthy buyers, fueled by high-end property prices 89% increase over the past year Sales of ultra-luxury properties valued at over $10 million reached unprecedented levels.
It’s no surprise that the launch of the city’s newest brands, Residential Towers, St. Regis Residences and Financial Center Road, sold out 70% of the units in the first hour, with combined sales of over AED 1 billion. It doesn’t matter.
“Based on its outstanding launch sales, it’s no exaggeration to say that The St. Regis Residences Financial Center Road was tailored to meet the requirements of today’s affluent clientele.” Abdullah AlajaziFounder and CEO driven properties“We are delighted to see the industry come together on such a great project.”
Located in the heart of downtown Dubai, the new facility is scheduled to be completed in 2025. Available units consist of 1- to 4-bedroom luxury apartments and 4-bedroom penthouses advertised as offering the largest layouts or 50 on the market. % larger than the downtown average.
In keeping with the St. Regis brand, the residences offer a host of luxurious comforts and amenities. Notable services include private his chef, spa treatments and pet care. Owners will also have access to the building’s fitness facilities including a running track, outdoor yoga area, padel court, golf simulation room, gym and infinity pool with views of the landmark Burj Khalifa, the tallest building in the world.
The success of the launch mirrors the success of another branded residence. Six Senses Residences The PalmSix Senses Residences, due for completion in 2024, has been sold 75% of that unit As of October last year.
With over 40 branded residences, Dubai currently ranked As a global leader in branded properties.
House prices are expected to rise as demand continues to propel Dubai’s luxury market to new heights. Although at a slower pace than in 2022.
The driven property is Forbes Global Propertiesa consumer marketplace and membership network of elite brokers selling the world’s most luxurious homes.