Phase 1 of Damac's Akoya Imagine villas sold out

The contemporary villas are designed and priced to attract professionals in the 'under 35' age group.

Damac Properties has announced that phase one of Akoya Imagine villas has been sold out, and that the launch of the second phase is planned for the end of July.

The contemporary villas, designed and priced to attract professionals in the 'under 35' age group, have proven to be popular among millennials seeking a permanent residence or vacation home in one of Dubai's golf communities. The sales event for phase 2 will be held for only one day at Jumeirah Emirates Towers in Dubai on July 30 from 2pm till 10pm on a first-come-first-served basis.

"With the number of mega projects under way in Dubai, such as Expo 2020 as well as tourist and leisure attractions, we are witnessing an influx of young professionals in a number of industries who are involved in providing services to support them," said Ziad El Chaar, managing director of Damac Properties.

"A significant number of this young and ambitious demographic is extremely keen on investing in a value-for-money property in Dubai that matches their savvy lifestyle while also serving as a safe haven to live, settle down and achieve personal goals. We recognise this demand and hence the Akoya Imagine community was developed with this kind of investor - young couples and families - in mind. We have already received excellent response, signifying the dynamism of Dubai's real estate sector and the emergence of new and exciting target segments," he added.

Since its launch two weeks ago, phase one of Akoya Imagine villas has already been purchased by investors from over 26 nationalities, representing a diverse investor pool spanning the Middle East as well as Asia, Europe, Africa and the Americas.

Akoya Imagine is targeted at a new type of buyer - young and savvy to the lifestyle and financial benefits of buying in an international golf course community, which is currently in limited supply.

Set in the heart of the Akoya Oxygen master development, Akoya Imagine villas are surrounded by fairways of the international golf course by Tiger Wood Design.

- business@khaleejtimes.com