(MENAFN- Khaleej Times) Damac Properties is launching sales on its latest serviced living project in the Burj Area of Dubai.
Bay's Edge is a 22-storey iconic tower, offering waterfront views across to the world's tallest tower. The 220 units are made up of studios, and one-, two- and three-bedroom apartments, all managed by the hospitality management company of Damac Properties.
The Dh400 million project, in which prices start from Dh720,000, is set for completion by the end of 2016.
"We have seen overwhelming interest in luxury serviced living in the Burj Area of Dubai and that is why we are bringing Bay's Edge to the market now," said Ziad El Chaar, managing director of Damac Properties. "The tower is in an enviable location overlooking the pristine water and over to the city setting of the Burj Area."
Highlighting the desirability of the area, the Real Estate Regulatory Authority Rental Index showed that the two areas in Dubai that saw the highest transaction activity and price increases last year were the Burj Area and Dubai Marina.
Damac Properties will have more than 4,400 luxury serviced hotel apartments completed or under development by the end of 2013, making it one of the largest operators of luxury serviced living in the Middle East.
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