DAMAC Properties’ Latest Development Vera Residences More than 85 Percent Sold

DAMAC Properties, a leading luxury real estate developer in the region, announced an unprecedented response to units in Vera Residences, located in Business Bay. The luxury apartments, which boast breathtaking views of Dubai Canal, went on sale on November 4 and more than 85 percent of units released were sold on its first day of sales.

Priced from AED 499,000, investors snapped up apartment units in the 30-storey tower, which features elegantly appointed interiors and access to world-class amenities in an attractive and central location in Dubai. Due to the high demand, only a limited number of units remain.

Niall McLoughlin, Senior Vice President, DAMAC Properties said: “The overwhelming demand we witnessed for our latest project Vera Residences reaffirms the success of our strategy to provide investors with the right product at the right price. We thank our customers for choosing our value-driven real estate projects which we develop to meet  customer  demand.  By listening to what our existing and potential customers want and focusing on product innovation we are able to present apartment units across a spectrum of prices based on design, amenities and, most importantly, location.”

“Our customers recognise good value and Vera Residences represents an ideal investment opportunity in one of the most desirable locations in the city, with high rental yields that can potentially reach ten percent per annum. Thanks to our attractive payment plans, owning a home or investment property is now more attainable,” continued McLoughlin.   

Vera Residences’ easy payment plan includes an initial deposit of 20 percent plus DLD registration fees, followed by monthly payments for a 35-month duration, as low as AED 4,990. Furthermore, in the special payment scheme, 40 percent is due upon completion of the project.

Vera’s close proximity to the prestigious Downtown Dubai district will provide the ultimate lifestyle for residents and the ability to live in a thriving community with connectivity to the city, by car, water, or metro.