DAMAC Properties to build new development in Dubai
DAMAC Properties Chairman Hussain Sajwani announces launch of another Dubai icon and one of Dubai’s largest real estate projects on the Sheikh Zayed road overlooking the Dubai Canal.
DAMAC Properties has announced a major new project, destined to become another icon of Dubai’s real estate landscape.
‘AYKON City’ is a six tower luxury project comprising Dubai’s first all-suites, 80 storey AYKON Hotel and Residences, a 63 storey DAMAC Maison Serviced Hotel Residences, a 60 storey apartment tower, a 65 storey office tower and two c. 30 floor ultra-luxury residential towers featuring state-of-the-art car lifts to each unit and direct views over Dubai Canal and Safa Park. Limited release of the serviced residences go on immediate sale with further releases in due course.
‘AYKON City’ is a 4 million sqft development, located on the eastern and western sides of Sheikh Zayed road at the Safa Park intersection and in close proximity to the Dubai Canal. It will join other iconic developments in the golden quadrant of the business district of the city such as City Walk, the Burj Khalifa, Emirates Towers and the Dubai International Financial Centre district (DIFC).
This project will also feature the ‘AYKON Dare’, an addition to Dubai’s tourist attractions; an adrenaline experience on the 80th floor of the Hotel where guests get to walk around the outside of the tower’s roof for a real adventure and with magnificent views of the city. For the less adventurous, ‘AYKON City’ will also consist of the ‘AYKON Plaza’ with swimming pools, Spa, beach club, cafés, restaurants, Yogaand Tai-chi areas, and private members club.
The project sales value is AED 7.4billion and construction is due to commence before this summer with a completion date of 2021.
Hussain Sajwani, Chairman of DAMAC said, “We are delighted to announce a project of this scale in collaboration with Meraas Holding and on such a site in this premier location of the city. DAMAC Properties is an established, chosen and trusted real estate developer in the region, selected for the largest and most influential projects, and this area of our city is one of the most important developments in Dubai’s expansion, opening up access to many kilometres of the Dubai Canal”.
“We would like to thank Meraas Holding for their belief in our luxury developments and look forward to creating a unique and memorable environment.”
He added: “AYKON City is testament to our solid commitment and belief in Dubai’s strong economy and especially in the future of the real estate sector. The prosperity of the UAE and this vibrant metropolitan city is the reflection of the wise policies of our leaders and our government headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai who, with his vision about our society, reiterated during the latest World Government Summit, is paving the way for clear and innovative thinking and development within the city”.
As of 31st December 2015, DAMAC Properties has delivered over 15,500 homes and has a development portfolio of over 40,000 units at various stages of progress and planning. Included are more than 13,000 hotel rooms and serviced hotel apartments, which will be managed by its hospitality arm, DAMAC Hotels & Resorts.