(MENAFN - Khaleej Times) Nstruction at this phase of capital bay will begin next month with pre-launch prices starting at dh1032000 available at all damac properties sales offices.damac properties has announced the launch of its first serviced hotel apartment project in dubai’s business bay to be managed by its new operations brand naia by damac.hot on the heels of the launch announcement of naia by damac — a leading serviced hotel apartment’s operator in dubai — the company has released the next phase of capital bay – a 16-storey tower in the central business district of the emirate. the 131-unit project comprises a mix of studios one- two- and three-bedroom serviced apartments offering access to the heart and soul of the city.construction at this phase of capital bay will begin next month with pre-launch prices starting at dh1032000 available at all damac properties sales offices. the project will be completed in the fourth quarter of 2016.naia by damac projects provide visitors with spacious and convenient units connected to the urban space of the emirate. each naia by damac unit comes complete with a fully-fitted kitchen and maid services with access to a restaurant kids club and swimming pool.“we have seen an unprecedented response to naia by damac during the first couple of days of the atm” said niall mcloughlin senior vice-president of damac properties. “with dubai projected to be the most-visited city in the world in the next few years there is a huge focus on the industry and particularly on what luxury developers are preparing to offer the influx of tourists.”“given the level of interest we have decided to bring this tower at capital bay to market straight away and present our first project which will be managed by naia by damac is in the sought-after business bay area” he added.other projects under the naia by damac brand include naia downtown akoya naia miracle garden naia dubai world central naia jumeirah village naia business bay and naia al maktoum airport street giving a total of more than 3800 units under development.