Select Property Launch Manhattan-style development on Dubai Marina
UK based overseas property developer Select Property has launched West Avenue, a 32 storey luxury Manhattan style complex on one of the last remaining plots on Dubai Marina.
West Avenue is a joint development partnership for Select Property combined with Dubai based Select Group, and is the seventh tower to be launched by the companies - who have already sold out six off-plan developments on Dubai Marina.
Contemporary in style, West Avenue offers studios, one and two bedroom apartments, along with two bedroom Marina and City Suites and luxury penthouses. All 273 units in the exclusive West Avenue development have been designed specifically for spacious, open plan living.
Acknowledged as the height of Dubai living, Dubai Marina is the largest man-made marina in the world. Situated in the central part of the marina, studios in West Avenue are available with a 15 year non-status payment plan. Purchasers also benefit from the security of an Escrow account, protecting their funds during the build phase.
Prices for property in Dubai Marina have soared over the last few years with the average price per square foot rising from £120 in 2005 to £342 in 2008, making properties in the area a sound capital investment. A key driver for the continued growth is Dubai Marina’s excellent location.
Mark Stott, CEO of Select Property, explained: “Dubai Marina is undeniably one of the most desirable locations for residential property in the Emirate. Located off the Sheikh Zayed Road and Jumeirah Beach, and in close proximity to the commercial areas of Dubai Media City and Internet City, Dubai Marina appeals to both the business and leisure resident. It is perfect for investors looking to benefit from the ongoing Dubai property boom.”
West Avenue will offer facilities catering for all needs including a swimming pool, sauna and steam room, modern gym, shopping, dining facilities, and 24 hour security.
Dubai attracts a number of markets to its sun kissed shores, not least property investment. In an economy that is defying the credit crunch, Dubai is still hugely popular with the holidaymaker and those looking for a more permanent luxury home, and demand for property looks set to outstrip supply until the end of the decade (Source: Meed Real Estate report 2007).
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Operating since 2004 Select Property has become a leading specialist in off-plan overseas investment property. Following initial success marketing and selling luxury residential property, on an exclusive agreement basis, in March 2008 Select Property took the landmark decision to move into development launching one of two residential projects located on Al Marjan Island, Ras Al Khaimah, United Arab Emirates.
The company currently has 90 employees operating out of offices in the UK and Dubai. By February 2008 Select Property had successfully sold over £550million worth of property to customers in 53 countries.
Select Group Developments
A leading developer of luxury residential property in Dubai Marina, the world’s foremost master planned waterfront development, Select Group Developments has undoubtedly raised the bar in the Dubai real estate industry. Launching projects, which offer the pinnacle of modern living, and the best return on investment, the group is committed to strengthening its customer-focused values - total assets under development have exceeded £500million.
Select Property has enjoyed a successful relationship with Select Group Developments, working on four off-plan developments, including the Marina’s centrepiece Bay Central, the iconic super tower The Torch, The Point, and Botanica, the only residential development with a sky garden. Most recently the two companies have announced their collaboration on Pacific, Al Marjan Island, Ras Al Khaimah, the first project, which is being developed jointly by the two companies.
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