Dubai – Mubasher: Dubai-based prestigious property developer Tebyan Real Estate Development on Wednesday revealed that more than 70% of its latest development, Sparkle Towers in Dubai Marina, has now been sold ahead of handover.
The real estate development company has sold 265 apartments, while over 100 units are still available for sale, Mohamed Faraj, managing director of Tebyan, said.
Faraj depicted the company’s profile of investors and end users as “incredibly diverse” for including investors from many countries as Sweden, Russia, the US, South Africa, Italy, the UK, Saudi Arabia, and the UAE, according to a press release.
Sparkle Towers, located on one of Dubai Marina’s plots, is a twin-tower development comprising 29 and 14 storeys, respectively, built in a vibrant waterfront community and linked by a four-floor residential podium.
The towers feature 373 luxury studio, one-, two- and three-bedroom apartments, in addition to two penthouses and a wide range of amenities and retail units, the release highlighted.
Sean McCauley, CEO of Devmark, a Dubai-based property development consultancy providing strategic advisory for Sparkle Towers, commented: “Even though prices in the Dubai real estate market have been soft of late, demand for Sparkle Towers has been very healthy.
“Quite apart from the design aesthetics and value for money, location and outlook are always of prime consideration when buying property and there are very few plots available with sea views overlooking Dubai Marina. Market-savvy buyers will have realised that this project will provide a sound return-on-investment. That is always the hallmark of a quality development,” he added.
Sparkle Towers is only two minutes away from the beach, in close proximity to a number of shopping, dining, and entertainment attractions in Jumeirah Beach Residence and Dubai Marina, the release indicated.
“Investors have been purchasing into the Sparkle Towers project due to the attractive projected rental yields that can be achieved due to its proximity to the beach and tram station and its strategic waterfront location in the Dubai Marina,” Richard Aybar, managing director of DevMark, said.
