AKOYA by DAMAC The Start of a New Way of Life

Real Estate

AKOYA by DAMAC The Start of a New Way of Life

Dubai, United Arab Emirates:22ndSeptember2014:AKOYA by DAMAC, the 42 million sq ft luxury golf community off Umm Suqeim Road in Dubai, has made great progress since its announcement just over a year ago.

The US$6 billion lifestyle community in Dubai will be the most luxurious development in the region, with high-end branded real estate, luxury mansions and villas, serviced living concepts, the Trump International Golf Course, a 4.3 million sq ft private park and entertainment-themed retail walk The Drive at AKOYA.

Main contractors have all been making good progress on-site with more than 2000 villas at various stages of the construction process. Work is also well underway on the Golf View Apartments, Golf Serviced Apartmentsand the Downtown at AKOYA.

The Trump International Golf Club, Dubai, which will wind its way through the heart of the project is also progressing well and is on target to begin operations next year. All of the holes have now been shaped with holes, 1, 5, 8, 10 and 11 all grassed. Cart pathsare now being installed around the course and shaping on the Academy course is close to completion.

In addition, Emirates Trading Agency LLC has made good progress on the 132kv dedicated substation which will power the site.

The first full year of development was capped off in flamboyant style, when both Mr. Donald J. Trump and Ms. Ivanka Trump paid a visit to the project, with Mr. Trump stating it was going to be a huge success.

The project has also already been named the Best Golf Development in the World at the prestigious International Property Awards ceremony in London.

We are delighted with the progress made at AKOYA by DAMAC over the past year and we look forward to welcoming the first residents of this exciting project early next year, said Ziad El Chaar, Managing Director, DAMAC Properties. AKOYA by DAMAC has certainly been challenging in size, scale and speed of delivery, but we have been delighted with the progress to date.

AKOYA by DAMAC includes an eclectic mix of luxury, limited edition, bespoke villas and mansions. Buyers can select from a variety of finishes and services, including homes with interior designs by Italian fashion brand FENDI, the pinnacle of white glove service and style in The Trump Estates and the first ever serviced living villas in DAMAC Villas by Paramount Hotels & Resorts.

Buyers can also create their own dream home, with plots for large scale mansions available with options to develop the land privately.

Never before has there been such a varied mix of real estate, retail and lifestyle options all in one location, added El Chaar.

Add the 94,500 sq ft retail centre The Catwalk including anchor tenant Waitrose, international schools, mosques, clinics and spas plus the highly anticipated Drive at AKOYA a 1.3 km retail, dining & entertainment strip, and serviced Hotel apartments from NAIA by DAMAC and DAMAC Maison: AKOYA by DAMAC is set to become the focal point of the local community.

AKOYA by DAMAC was the first major master development to be announced following Dubais economic recovery and is the strongest possible proof-point in belief of the emirates resurgence.

We recognised early on that creating a luxurious home and living environment is one thing, but to present that exclusive property in the heart of a thriving, stylish community is another, added El Chaar. We think AKOYA by DAMAC really talks to those buyers looking to set up home in Dubai in a safe and peaceful environment while at the same time, being part of a high-end district.

The luxury golf community off Umm Suqeim Road in Dubai, which is almost 15% larger than Central Park in New York City, USA, is one of the largest master developments under comprehensive construction in the United Arab Emirates.

Overlooking the Trump International Golf Club, Dubai will be luxury property, including the 104 stunning Trump Estates which offer the pinnacle of Trump service standards, set within a private, island location. The FENDI Villas a world first will also have their own private, security-controlled access. FENDI Casa home furnishings and dcor will be used throughout this limited edition collection.

If Hollywood style and glamour is more to your taste, the DAMAC Villas by Paramount Hotels & Resorts offer the California Cool lifestyle synonymous with the 101 year history of Hollywood.

From each of these private communities owners can step out into AKOYA Park and experience the peace and tranquillity of a luxurious green space reserved only for the owners in AKOYA by DAMAC. After a cycle around the park, maybe head for a coffee with friends in Downtown at AKOYA or go shopping along the 1.3km retail strip, The Drive at AKOYA. The kids will also be well catered for with four exciting entertainment zones across the strip. From a golf putting green to extensive kids play areas, outdoor ice rink and open air cinema, The Drive at AKOYA is set to be the new haute spot in Dubai.

We have worked tirelessly to make sure we include everything a family would need, without ever having to leave AKOYA by DAMAC, said El Chaar. The open air, fresh community feel will create a great vibe across the whole development,

The first projects in AKOYA by DAMAC will open next year, with the full community open and operational in 2018.

Established in 2002, DAMAC has delivered almost 11,000 units to date and currently has a development portfolio of over 26,000 units at various stages of progress and planning as of June 30th 2014, which includes over 10,000 hotel rooms and serviced hotel apartments.