Dubai: New ultra-luxury residential tower generates Dh1 billion in revenue

A whopping 70 per cent of units at the ultra-luxury St. Regis Residences on Financial Centre Road in Dubai sold out in the first hour of their launch, with sales valued at over Dh1 billion.

St. Regis Residences is the latest branded residential tower to be launched in the city. Located in the heart of Downtown, it is set for completion in 2025.

In a market buoyed by the luxury segment, with no signs of a slow-down, demand for the project was immense. “Based on the outstanding sales at the launch, it is safe to say that St. Regis Residences, Financial Centre Road was tailor-made to fit the requirements of a modern, affluent customer. It was our pleasure to see the industry come together around such a fantastic project,” said Abdullah Alajaji, Founder and CEO of Driven Properties, the exclusive broker for the project.

The newest property to join the St. Regis residential portfolio, the 232 homes in St. Regis Residences, Financial Centre Road, Dubai range from 1, 2, 4, 5- bedroom to penthouses, measuring between an impressive 970 sq.ft and 9,325 sq.ft. The units offer the largest layouts on the market – up to 50 per cent bigger than the average in Downtown – and come with bespoke, high-end finishings and 360-degree views.

Reflecting on the successful launch, Vinay Varma, Director at developer Adventz Group, said: “The response to the launch of St. Regis Residences has been overwhelming and is a true testament to the quality of the development as well as the reputation of the Adventz Group.”

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One of the leading brokerages in the region and specialist in the luxury segment, Driven Properties is also a member of Forbes Global Properties, an invitation-only consortium of leading real estate firms, reserved for only the 100 most elite in the world.