Tell us about The Residences Jumeirah Dubai, Managed by The Address project and when do you expect this project to be completed?
Hamptons International is the exclusive sales and marketing agent of The Address Residences Jumeirah Resort + Spa. The Residences Jumeirah Dubai, Managed by The Address, is one of the three components of the project.
The Address Residences Jumeirah Resort + Spa has a built-up area of 255,000 sq.m. It is essentially a single building, arranged in a split formation to maximise light and ensure sweeping views of the Arabian Gulf, The Palm Jumeirah and the Dubai Marina. This gives the structure, the impression of being two towers. The building has an infinity pool and terraces skillfully arranged in an extensively landscaped oasis to complement the scenic waterfront setting.
With a distinctive ‘space’ carved out in the centre, the project’s three components include: The Address Jumeirah Resort + Spa with 183 rooms and suites, and The Address Residences Jumeirah Resort + Spa, which comprise serviced apartments fully served by The Address Hotels + Resorts, the flagship hotel brand of Emaar Hospitality Group. Both these are located in West Tower, with 75 levels and 303 metres high.
The third component is the residential apartments, The Residences Jumeirah Dubai, Managed by The Address located in the East Tower. A welcoming lobby links the two towers.
The project is being developed in phases, and construction has commenced.
You have been chosen exclusive sales agent for this project. What do you have to say about that? Will you have more channel partners or sub-agents in the future to widen the selling points?
Hamptons International is the exclusive sales agent for the project, and is a testament to our competencies in managing the sales and marketing of large-scale projects. It is rare for a single property management company to be assigned the management of sales exclusively, and we have rolled out a concerted strategy to drive the sales.
As the exclusive sales and marketing agent for the project, we offer the highest standards of service and assist our customers through every aspect of the sales process. The strong investor response underlines the success of our sales and marketing initiatives. We have been highlighting the unique value proposition of the project as not-to-miss investment opportunity that can offer strong returns apart from the superb lifestyle by the beach.
What kind of investment this would be for buyers? Why do you think the project makes a great investment proposition for investors/buyers?
This is a very exclusive and unique property investment opportunity as it is the last available plot to ever be built on the beach on Jumeirah Beach Walk. Its unique value propositions include that it is the tallest on Jumeirah beach, directly overlooking the Arabian Gulf, The Palm Jumeirah, Dubai Marina and Ain Dubai (Dubai Eye), which is set to be the world’s largest observation wheel.
It is also within walking distance of the Dubai Marina Walk, Jumeirah Beach Walk and The Beach Walk and it stands out for its shimmering façade and elegant architecture.
Inspired by modern ‘La Dolce Vita’ themed interiors, the residences offer spacious living areas catering to all lifestyles with exquisite views of its surroundings. The luxury apartments also have high-quality fixtures, state-of-the-art entertainment and telecom connectivity.
Residents will have access to more than 100 metres of exclusive beach frontage and several food & beverage concepts within The Address Jumeirah Resort + Spa including the lounge at the top level and a signature Sky Restaurant.
The development offers easy access to and from Jumeirah Beach Road and Sheikh Zayed Road and is only steps away from Dubai Tram and Metro. The property is set in elegant green landscaped surroundings with outdoor lounges, restaurants and pools. With its location, amenities and the service standards of The Address Hotels + Resorts, the residences will offer strong returns for investors in the short, medium and long term.
What is the response from the buyers since you commenced the sale of apartments a couple of months back?
The response to the launch has been extremely positive and we have investors not just from the region but also from international markets with over 30 different nationalities. It underlines the strong value proposition of the project, and the demand for premium residences in Dubai in spectacular locations. As exclusive sales agents, we are highlighting the unique value proposition of the project.
What is the profile of investors/buyers that you think would be interested in this project? Based on your past experiences, do you think there could be a good mix of local and foreign investors that would be interested in such kinds of project?
The Residences Jumeirah Dubai, Managed by The Address are luxury residences and appeal to those who are looking both to invest and to acquire a home on Dubai’s seafront with all the benefits of the services offered by The Address Hotels + Resorts, the flagship hotel brand of Emaar Hospitality Group. We have seen strong response from them, as mentioned, and we also have a mix of regional and international investors.
Considering the fact that The Residence Jumeirah Dubai, Managed by The Address, is the first opportunity for customers to buy freehold homes located in the tallest tower on the beach, you reckon the project will attract more foreign investors as they have limited access to freehold properties in the UAE? Which nationalities (source markets) do you think will be interested in this project?
We have received significant interest from international investors from all around the world. With Dubai’s credentials as a global business and leisure hub and with the preparations for the Expo 2020 Dubai, we see the project as offering great value to all. Those seeking a first or second home in the city, as well as those investors looking for assured rental yields, or the superb lifestyle in a metropolis by the beach.
Considering the fact that there is some sluggishness in the property market right now, do you think the timing was right to launch such project? How confident are you about attracting good number of buyers/investors despite the low investment appetite in the market?
In fact, we believe that now was the perfect time to launch our project, and the testament to this the success and the high number of transactions recorded for Phase 1 release. The gained strong investor response to our launch. This is an exceptional property in an exceptional location with world-class amenities and design considerations. The robust performance of the Dubai economy has also contributed to the investor appetite.
In order to make things easier for investors/buyers, what payment terms and other facilities/offers are you offering to them? Are you willing to disclose the asking price/per sqft/ticket price of the apartments? Have you kept this price range keeping the current market condition in mind?
Our experienced customer service representatives support the customers through the entire sales process, including assistance in securing finance. The luxury residences command a premium, which have been well-accepted by the investors for the value that the project offers. This is highlighted by the strong demand and investor response.
Customers can choose from 1 to 5 bedroom premium luxury apartments inspired by a ‘La Dolce Vita’ themed interiors, ranging in size from 650 to 4,300 sq.ft.
What are your plans to promote the project and increase the sales? Are you going to exhibit the project in your source markets in order to increase sales?
We will explore all the marketing and sales channels suited for our project that support the sales strategy. In fact, we have already undertaken roadshows in Dubai and we will continue to market the project in other international destinations.