While high prices might be deterring some residents from moving into prime locations, the Marina area is still garnering interest from investors.
The Select Group confirmed it has had a successful uptake of units at the Marina Gate II development, part of an AED4 billion three-tower structure in Dubai Marina, Gulf News reported.
The first phase of the 64-storey Marina Gate II had 180 units, and more are to be released during roadshows in the GCC, Europe and the Far East.
“This is an interesting time for the Dubai real estate market wherein customers are more discerning about quality, location and developer reputation,” said Rahail Aslam, CEO. The first tower units were put on sale earlier this year.
“We did have an extensive waiting list of pre-registered buyers anticipating this launch,” said Aslam. “A very large percentage of our Tower I client base comes from across the GCC, North Africa, Europe and the Far East, which is where we intend to hold our international sales events for the remaining units from Marina Gate II.”