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Set the price below average and the sales will follow. Read more on how Dubai developers choose this strategy to sell off-plan and why this actually works.
In the first six months of the year, off-plan sales dominated in the Dubai property market, with leading developers using lower-than-the-average-price as their main strategy for summer selling campaigns.
Damac is offering Dubailand villas priced from AED2.96 million and with no service charges for 10 years. And Dubai Properties in the meantime sells its Villanova homes valued at AED1.3 million.
At the same time Seven Tides launches its 1.3 billion Se7en City high-rise project in with extremely lucrative per square feet price for apartments.
Since the project’s first launch in late May, it has already sold more than 800 units starting at AED925 per square foot. The whole development includes 2,600 units, merely a half of which the developer is intended to sell in the nearest weeks. “And all this when everyone was saying that trying to sell off-plan now has got riskier,” said Abdullah Bin Sulayem, CEO at Seven Tides.
“We knew we’re taking a calculated risk launching sales in May and during Ramadan. I had already delayed the sales launch a few times, but when Dubai Government announced the 10-year residency visa initiative, I knew now was the correct time,” adds Bin Sulayem.
“Going lower than the average price at JLT was a strategic decision, which at the time was above AED1,000 a square foot and even up to AED1,400 at certain locations,” Bin Sulayem explains. “That’s why starting from AED925 was so vital in generating demand.”
Studios at Se7en City were then priced at AED354,000 and three-beds at AED1.4 million. And the start of the third round of sales is scheduled for September. Construction at the site is expected to start in three months, and the completion is about to happen in 36 months.
Furthermore, Seven Tides plans to get back to the seaside again for its next project after Se7en City. There had been mentions about a potential project on The World group of islands.
“We have delivered the , and the Dukes, and Seven Residences on the . And we will get back to the beach for our next venture, for which we already have the land,” said Abdullah Bin Sulayem.
In the meantime, a sales campaign is still in active phase for luxury located on the ‘trunk’ of the Palm Island just in front of the future Nakheel Mall. These units are available for purchase and just perfect for investments, with 10 per cent developer-guaranteed ROI during a period of 5 years. For more details please visit se7en.imexre.com or contact us directly at IMEX Real Estate:
Tel.: +7 903 232 80 80 Oleg Lavrik (Whatsapp, Viber, Telegram)
Tel. UAE: +971 (50) 2528188
Toll Free in Dubai: 800-IMEX (800-4639)
IMEX REAL ESTATE BROKER LLC, UAE
Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE
Email: pm@IMEXre.com
Skype: resident69
