DAMAC Properties Introduces AKOYA Imagine Targeting Millennials

AED 1.2 million for a three bedroom villa, payable over three years
with free service charges for five years

DUBAI, UAE, July 3, 2016 /CNW/ - DAMAC Properties today unveiled AKOYA Imagine, a cluster of homes surrounded by the lush greens and fairways of the international golf course. Set at the heart of the AKOYA Oxygen master development, AKOYA Imagine presents a collection of colourful villas aimed at young couples and families, representing the perfect permanent residence or vacation home.

(Photo: http://photos.prnewswire.com/prnh/20160630/385255 )

(Photo: http://photos.prnewswire.com/prnh/20160630/385256 )

In Phase 1, three bedroom villas will be released with starting prices of AED 1.2 million, spread across an attractive three-year payment plan. Homes will also benefit from free service charges for five years. The units will go on sale on Saturday, 9th July in Dubai at DAMAC Maison Canal Views, Al Abraj Street from 11am to 11pm.

As a vibrant community nestled within a wonderful green backdrop, AKOYA Imagine is a neighbourhood for those who are contemporary and relaxed in their style of living. Indoor and outdoor spaces are carefully arranged to offer a casual way of life that blends function with social, family living, and an artful palette of colours. Interiors are open, airy and splashed with zesty hues, which balance warmth with cooling tones, energy with serenity and space with intimacy.

Ziad El Chaar, Managing Director, DAMAC Properties, said: "AKOYA Imagine is targeted towards a new type of buyer - young, professional and savvy to the lifestyle and financial benefits of buying in an international golf course community. This type of community is proven to consistently yield higher returns than a purely residential one and there is a limited supply in Dubai. Combined with the Tiger Woods Design element, a villa in AKOYA Imagine presents a very lucrative investment, not to mention an extremely attractive home."

Supporting El Chaar's statement, advisory firm KPMG stated in a recent report that golf courses typically increase the valuation of adjacent real estate by up to 20% when compared to similar real estate in a neighbourhood without the golf course component.

AKOYA Oxygen is a 55-million-square-foot master development that will showcase the greenest living spaces in Dubai. Home to the 18-hole championship golf course by Tiger Woods Design, the eagerly anticipated development boasts easy access to Dubai's major highways; yet is far enough away from the bustle of the city to offer a tranquil pace of life in a beautiful green setting.

Further information is available at http://www.damacproperties.com

Notes to editor: DAMAC Properties has been at the forefront of the Middle East's luxury real estate market since 2002 - bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the upmost quality. The company's footprint now extends across the Middle East with projects in the UAE, Qatar, Saudi Arabia, Jordan and Lebanon.

As of 31st March 2016, DAMAC Properties has delivered over 15,800 homes, including approximately 2,000 hotel units. The Company has a development portfolio of over 44,000 units at various stages of planning and progress, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.

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