Tuesday, January 19, 2021

Al Habtoor Group launches sell of 537 luxury units in Amna Tower

UAE-based developer Al Habtoor Group has launched the sale of its 537 luxury units in its 73-storey Amna Tower located near the Dubai Water Canal banks, media reports said. Apart from the luxury units, four-ultra luxury units are also up for sale.

Founding chairman Khalaf Ahmad Al Habtoor told the media, “I am pleased to report that during the pandemic, we have witnessed a healthy demand for real estate within our portfolio, from local and international investors alike.”

“Investors trust in the value of Dubai real estate, especially those with a high-quality finish and prime locations. The residential community has exclusive access to first-class amenities, which include the largest swimming pool and leisure deck in the UAE, a state-of-the-art gym, two luxury spas, multiple restaurants and cafés, the Al Habtoor Tennis Academy – which includes an indoor tennis court for year-round play, and an RTA marine stop on the Dubai Water Canal.”

Property prices in Dubai declined 0.9 percent year-on-year in the third quarter of 2020, its central bank said. Rents also declined by 6.9 percent during the period. The implied rental yield in Dubai moved to 6.6 percent in the third quarter, up from 6.3 percent in the previous quarter.

Secondary residential sales in Dubai hit a 7-year high in November. During the period, 3,928 transactions worth $2 billion were recorded in the emirate. According to real estate website Property Finder, the top areas for secondary apartment sales in November 2020 were Dubai Marina, Business Bay, Barsha Heights (Tecom), Downtown Dubai and Jumeirah Village Circle. The top areas for secondary villa/townhouse sales were Green Community, Arabian Ranches, Town Square, Nadd Al Sheba and Dubai Hills Estate.

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